how is market segmentation used in target marketing?

Essay specific features

 

Issue:

Business

 

Written by:

Charles T

 

Date added:

October 10, 2016

 

Level:

College

 

Grade:

A

 

No of pages / words:

1 / 178

 

Was viewed:

8957 times

 

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Essay content:

Although industrial market segmentation is quite different from consumer market segmentation, both have similar objectives. The process of segmentation is distinct from targeting (choosing which segments to address) and positioning (designing an appropriate marketing mix for each segment). The overall intent is to identify groups of similar customers and potential customers; to prioritize the groups to address; to understand their behaviour; and to respond with appropriate marketing strategies that satisfy the different preferences of each chosen segment...
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The overall intent is to identify groups of similar customers and potential customers; to prioritize the groups to address; to understand their behaviour; and to respond with appropriate marketing strategies that satisfy the different preferences of each chosen segment. Revenues are thus improved. Improved segmentation can lead to significantly improved marketing effectiveness...
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