Title: Market Segmentation

Essay Details

Subject: Business
Author: David S
Date: December 18, 2014
Level: University
Grade: A
Length: 2 / 326
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

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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