Marketing

Essay Writer

23 October 2006

Marketing

Market segmentation is considered to be the key to identify and deliver what the company wants to deliver and to whom . The issue because of which we are talking about segmentation is the heterogeneous market which came in view in twentieth century . The segmentation is about identifying the homogenous components of a market and then targeting them to serve . There are many criterions for segmenting the market geographical segmentation , demographical segmentation , psychological segmentation , behavioral segmentation , sociocultural segmentation and benefit segmentation . The idea is

to launch the products on the basis of segmentation by first identifying segments , targeting them and finally creating a marketing mix for each of them

What we need to do about both the products (Dry breakfast cereals and Toothpastes ) is to segment the market . The criteria for segmenting both the products would certainly be different , simply because both products are entirely different , dry breakfast cereals are more consumable to the children and therefore our primary target market would be the children may be the secondary one is adults , however it is another issue that parents of children would be considered as they have got the buying power and not the children but parents would buy the product on the suggestion of children , it can also be on the basis of behavior as different kids have different tastes . However , if the product line of cereals contain those that are more consumable to the adults then our immediate audience would be the adults for those products . Toothpaste is a commodity which is being used in every house whether there are children in the house and also the product seems to be less cheaper than the cereals so the audience may be based on the income level (provided that toothpastes are not extremely cheap , however if the product line does contain those toothpastes that are expensive and further they are having different tastes then the segmentation could be on the basis of behavior , further it can be on the basis of benefit as toothpaste is a commodity in which consumers mostly follow variety seeking buying behavior (if a particular product would be unavailable then the consumer can buy another one without searching

The demographical segmentation can look for the market 's age , sex income and education . We would consider demographical segmentation to be important for marketing both the products as we have discussion about the possible related to children and adults , it can help us in knowing who actually our buyers are . Segmentation could also be done on the basis of psychological factors which mean personality and lifestyle Behavioral segmentation is very important for both the products as it can tell us the usage rate of our products , the brand loyalty and the level of awareness . Benefit segmentation can be the criteria only for the toothpastes which is related to the convenience and economy for the customer Branding is a very modern concept which has prevailed because of growing competition and diversities in...