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Essay

Market Segmentation

Essay specific features

 

Issue:

Business

 

Written by:

Ruth R

 

Date added:

June 15, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 326

 

Was viewed:

3046 times

 

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Essay content:

Markets can be segmented or targeted using a variety of factor. The bases for segmenting consumer markets include: Demographical bases (age, family size, life cycle, occupation) Geographical bases (states, regions, countries) Behavior bases (product knowledge, usage, attitudes, responses) Psychographic bases (lifestyle, values, personality) A business must analyze the needs and wants of different market segments before determining their own niche...
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To be effective in market segmentation keep the following things in mind: Segments or target markets should be accessible to the business Each segmented group must be large enough to provide a solid customer base. Each segmented group requires a separate marketing plan. Large companies segment their markets by conducting extensive market research projects...
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