Segmentation

Essay specific features

 

Issue:

Business

 

Written by:

Shannon C

 

Date added:

May 20, 2014

 

Level:

University

 

Grade:

C

 

No of pages / words:

2 / 317

 

Was viewed:

6022 times

 

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Essay content:

To get a product or service to the right person or company, a marketer would initially segment the market, then target a single segment or series of segments, and finally position within the segment. Market segmentation is the basis for customer orientation and differentiation Segmentation is most helpful because it is the identification of sub groups of buyers within a market who share similar needs and who demonstrate similar buyer behavior...
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The world is made up of billions of buyers with their own sets of needs and behavior. Segmentation aims to match groups of purchasers with the same set of needs and buyer behavior. Such a group is known as a 'segment'. Making this process easier and more efficient is the use of “PRIZM codes” which help to code the different segments and subgroups ...
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