Segmentation Marketing - 1406 Words

What are the weaknesses of mass marketing, as opposed to segmented marketing? What advantages does a company gain from market segmentation, as opposed to treating the market as single entity? MASS MARKETING:- Mass marketing is a market strategy in which firm or industry treat market with single offer or one strategy. In this marketing term wide range of customers and audience are concentrated. As there is no segmentation and focusing concern so large amount of customers are possibly exposed to the product. For example as audience is focused on radio, television and newspapers in which large and broad audience are targeted by the companies and industries towards their product. Mass marketing is the opposite of segmented marketing as it†¦show more content†¦Researcher has shown that racial similarity, role congruence, labeling intensity of ethnic identification, shared knowledge and ethnic salience all promote positive effects on the targeted market. In market segmented we have seen that their customers and consumers are loyal and strongly affinity to the particular brand or product. As in market segmenting the market is divided into individual markets with similar wants and needs as on the products consumption. Broadly markets can be divided according to a number of general criteria, such as by industry or public versus private. Although there is difference in industrial and consumer market segmentation but both of them have similar objectives. Why segmentation? One of the main reasons for using market segmentation is to help companies to better understand the needs of a specific customer base. Mass marketing assumes that all customers are the same and will respond to the same advertising. By looking at ways in which potential customer groups are different from each other, the marketing message can be better targeted to the needs and wants of those people. Often. Dividing consumers by clearly defined criteria will help the company identify other applications for their products that may not have been obvious before. These revelations often help the company target a larger audience in that same demographic classification, improvingShow MoreRelatedSegmentation And Marketing : Segmentation Essay2969 Words   |  12 PagesQuestion 1 Segmentation means to divide the marketplace into parts or segments which are definable, accessible, actionable and profitable and have a growth potential. In other word it is a technique used to enable a business to better target its products to the right customers by identifying the specific needs and wants of customer groups and then using those insights into providing products and services which meet customer needs. Segmentation is a necessary first step because it is impossible toRead MoreMarketing Segmentation1000 Words   |  4 PagesMarketing segmentation Market segmentation is the process of dividing the market into dissimilar, distinctive groups of people who have similar needs to be satisfied, alike wants and behavior, or might want some products and services. Markets can be divided depending on a number of wide –ranging criteria. They are: geographic (region, county, climate etc.), demographic (age, gender, family size, religion) psychographic (personality, life style, attitude etc.) behavioral (benefit sought, brand loyaltyRead MoreSegmentation and Target Marketing1952 Words   |  8 PagesSegmentation and Target Marketing Andrew Swanson MKT/571 December 21, 2015 Steven Kraus Segmentation and Target Market Paper â€Å"Marketing segmentation and targeting are particularly important for finding customers that are the best match for a business’s products and services† (Suttle, 2014,  ¶ 2) This statement speaks directly to the ideal scenario every company hopes to find; one where it’s strengths as a product and service provider are best matched with theRead MoreMarketing Segmentation for Mcdonalds1753 Words   |  8 Pagesin a time given. As for the marketing-orientation is a more modern way of doing business. 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As all markets are heterogeneous (Baker Hart, 2008, p. 222), attempts to please all of the people all of the time are doomed to fail. In order to effectively use marketing resources to meet a company’s goals, it is often in their best interests to develop a marketing strategy with a basis in segmentation. The market segmentation process involves six stepsRead MoreMarket Segmentation And Marketing Strategies1086 Words   |  5 PagesMarket Segmentation Process The market segmentation process takes into account what consumers are looking for in order to solve a particular problem that they are having or a need that they posses (Best, 2013). Therefore, it is important to first understand â€Å"the various customer needs that drive product consideration and performance† (Best, 2013, p. 157). This means that customers have to be placed into â€Å"needs-based-segments.† In order to do this demographics, usage behaviors and psychographics thatRead MoreMarketing Segmentation of Adidas Essay1435 Words   |  6 Pagesparallel bars. The company revenue for 2009 was listed at â‚ ¬10.38 billion. The market segmentation; targeting and position play an important role in this company. This essay will use the three factors to analyze this company. Market segmentation Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first identifies different way to segment the market andRead MoreMarketing Mix and Market Segmentation1085 Words   |  5 PagesMarket Segmentation And Marketing Mix in Avon Report on the effects of use Marketing Mix and Market Segmentation by the Avon Company Prepared for By 30 November 2010 TABLE OF CONTENTS Page 1. 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