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Essay

Market Segmentation

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Issue:

Business

 

Written by:

John R

 

Date added:

July 22, 2015

 

Level:

University

 

Grade:

B

 

No of pages / words:

10 / 2535

 

Was viewed:

10047 times

 

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Essay content:

Such a group is known as a 'segment'. The diagram above depicts how segmentation information is often represented as a pie chart diagram - the segments are often named and/ or numbered in some way. Market segmentation and the identification of target markets, however, are an important element of each marketing strategy...
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They are the basis for determining any particular marketing mix. Literature suggests the following steps: Segmentation is a form of critical evaluation rather than a prescribed process or system, and hence no two markets are defined and segmented in the same way. However there are a number of underpinning criteria that assist us with segmentation: • Is the segment viable? Can we make a profit from it? • Is the segment accessible? How easy is it for us to get into the segment? • Is the segment measurable? Can we obtain realistic data to consider its potential? There are many ways that a segment can be considered...
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