What conditions do you feel must be satisfied in order that market segmentation is effective? State the advantages and limitations of market segmentation with particular reference to consumer goods.
Date Submitted: 07/06/2002 17:14:11
Category: / Business & Economy / Marketing and Advertising
Length: 7 pages (1965 words)
Category: / Business & Economy / Marketing and Advertising
Length: 7 pages (1965 words)
What conditions do you feel must be satisfied in order that market segmentation is effective? State the advantages and limitations of market segmentation with particular reference to consumer goods. Compare and contrast your findings with proposed theories and justify your conclusions.
Marketers recognized long ago that products and services couldn't be "all things to all people." Buyers have different taste, interest, goals, lifestyles, and so on. Among other things, the emergence of the marketing concept …
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…segmentation process because it enables marketers to design responsive products to meet the needs of the marketplace and to develop effective and cost efficient promotional strategies. Moreover, it can provide marketers with reliable data on which to base resource allocation decisions. Market segmentation provides the necessary research base on which all other marketing strategies can be successfully formulated. Finally, I would just conclude that segmentation is a systematic approach for controlled market coverage and expansion.
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