Segmentation & Opportunity Analysis DB

Marketing segmentation allows a company to learn more

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Unformatted text preview: athletes. Nike's branding of their products is that they will make you run faster and jump higher. Nike's market is the non-athlete, I believe. (Post is Unread) Thread: Post: Author: Segmentation & Opportunity Analysis RE: Segmentation & Opportunity Analysis Christopher Shore Posted Date: Status: March 6, 2013 10:29 PM Published Understanding where to focus marketing activities is crucial to business success. Marketing segmentation allows a company to learn more about it customers and its customer's choices (Why Market Segmentation, n.d.). A company that understands the market segments it is targeting is more efcient at applying the limited marketing resources it has. For example, the heat exchanger market is a huge market if all code regulations governing their construction and all applications are considered. My company, TEi, focuses on ASME Code vessels for the power generation market. This reduces the market size our sales team has to contact and allows us to execute a much more focused marketing strategy. Why Marketing Segmentation is Important. (n.d.) Retrieved from www.adaptiveconsultancy.com (Post is Read) Thread: Post: Author: Segmentation & Opportunity Analysis RE: Segmentation & Opportunity Analysis Claudia Sasso Posted Date: Status: March 10, 2013 7:33 PM Published Hi Cynthia, I agree with your post. I like to view market segmentation as a way for firms to tailor their marketing mix to particular target markets, which aids companies in fulfilling customer needs. Market segmentation recognizes that their customers are diverse and tries to adjust to their needs rather than trying to please them with a general product/service. Mass marketing, on the other hand, refers to “ treatment of the market as a homogenous group and offering the same marketing mix to all customers. Mass marketing allows economies of scale to be realized through mass production, mass distribution, and mass communication. The drawback of mass marketing is that customer needs and preferences differ and the same offering is unlikely to be viewed as optimal by all customers. If firms ignored the differin...
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This note was uploaded on 02/08/2014 for the course BUS 504 taught by Professor Robinchase during the Fall '12 term at Post.

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