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The concept of segmentation and the bases for segmenting markets - The main methods of segmenting - The benefits and drawbacks of segmentation - The development of targeting decisions and strategies for positioning.
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The concept of segmentation and the bases for segmenting markets. The main methods of segmenting. The benefits and drawbacks of segmentation. The development of targeting decisions and strategies for positioning. All organisations sell or provide a service to the consumer; each service is significant and has its own place within the market. It is of the understanding that organisations cannot appeal to all markets or at least to all buyers in the same way. Buyers are all different and all seek a different array of needs, wants and desires. Companies vary widely in their abilities to serve different market segments of the market. Each company has to seek to identify their own markets that it can serve best. Segmentation provides the understanding for this. McDonald and Dunbar 1995 define segmentation as: "Market segmentation is the process of splitting customers into different groups, or segments within which customers with similar characteristics have...
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