Marketing Magagement

Introduction

To segment a market is to identify the fact that certain parts of the market are different from others . Market segmentation is a notion associated with target marketing because in target marketing , products or services are tailored for the needs of different clientele . This approach is quite different from the mass marketing concept because in mass marketing , all commodities are produced in bulk and they are assumed to meet similar consumer needs . While this approach has its advantages , one cannot ignore the fact that it disregards one of the most

important rules in marketing that consumer needs and preferences rarely collude

The four types of segmentation variables

In segmentation , variables may either be demographic , psychographic behavioralistic or geographic . In to ensure that segments fit one 's clients , then one needs to ascertain that the are accessible identifiable , substantial , durable , and unique (Kotler , 2007

Geographic

Geographic segmentation is segmentation based on geographical attributes . For instance consumers may be segmented by region . When companies choose this approach , then they might consider an entire continent . Such an approach is usually common in international companies . Sometimes , the term region can refer to a neighborhood . Many companies opt to sell different products or services to different neighborhoods as their tastes vary . Regional geographic segmentation may also encompass a certain state or country . A company like Kentucky Fried chicken offers different varieties of chicken depending on the prevalent tastes in a certain country . This is segmentation by region

Geographic segmentation may also be done on the basis of climate Usually , this is applicable when the commodity under consideration can be affected by weather conditions . For instance , clothing manufacturers are likely to use such a segment because certain clothes may be appropriate in the winter , summer etc . it is therefore necessary to meet these different needs

Sometimes geographic segmentation may refer to a metropolitan area . In this case , the size of the population will determine the nature of this segment . In other instances , population density is a basis of geographical segmentation . In such scenarios , companies classify their consumers on the basis of their rural , urban or suburban preferences Such an approach is common among a wide range of companies (Kotler 2007

Demographic segmentation

Demographic segments depend on a series of attributes . This is one of the most common marketing segments . Sometimes products may be segmented on the basis of age . For instance , there are shoes for children teenagers and adults . In other instances , segmentation may be based on gender examples here include cosmetics and jewelry . In close relation with this attribute is the issue of family size . In such a case an individual can either be single , married with children , married with no child . Usually , such concepts are common in food outlets or food manufacturing companies . They usually package their products according to these sizes . Sometimes , demographic segmentation may be based on ones ' occupation . For instance , consulting firms may need to use such a basis for classifying their consumers . Social class may also be another...