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Author: Segmentation & Opportunity
RE: Segmentation &
Maria Krug Posted Date:
Status: March 6, 2013 9:52 PM
Published It is important for organizations to be familiar with their marketing strategies and who
they are targeting with their products and services. According to Investopedia, “A
marketing term referring to the aggregating of prospective buyers into groups
(segments) that have common needs and will respond similarly to a marketing action.
Market segmentation enables companies to target different categories of consumers who
perceive the full value of certain products and services differently from one another.
Generally three criteria can be used to identify different market segments:
1) Homogeneity (common needs within segment)
2) Distinction (unique from other groups)
3) Reaction (similar response to market)” (Investopedia, 2013)
An example of marketing analysis that I can relate to my company, The Home Depot, is
our customers. Many of our customers are pro-customers, meaning that they are
contractors who work with our service desk and pro-sales department often. Therefore,
it is important that The Home Depot provides these contractors with the products we sell
and advantages such as lower prices. This can be seen when customers have to order
numerous amounts of kitchen and bath materials or plumbing materials. We want to
make sure that because we are marketing to contractors who are constantly working on
residential and commercial buildings that we have enough of each product or we can
order it for them in a timely fashion. Another example of marketing analysis with this
particular situation is that we provide our contractors the opportunity to receive lower
prices when they are making purchases over $2,500. We are able to send their quotes to
the “bid room”, meaning that they can get a lower quote for the items that they buying.
Opportunity analysis can relate to SWOT analysis which focuses on strength, weakness, 16 of 30 5/22/13 10:13 AM Collection http://post.blackbo...
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