Market segmentation Essay
Standardized product is produced and distributed So, instead of a single standardized product with a single marketing program or the same offering, the product and service offerings are marketing mix. Designed according to the needs and wants of the segment so as to satisfy them better. Satisfaction Results in lower prices and higher margins. – Also called mass marketing, aggregate – It has various forms: Single Segment, marketing and undifferentiated marketing. Differentiated segment, Concentrated segment or Niche, Micro-marketing: local, individual.
Concentrated Marketing (Niche) Individual marketing The marketer caters to Just one segment – The marketers caters to the customer individual although the product could appeal to others. And personalize the marketing mix. – The process includes targeting a small segment – The segment comprises one individual; So it is with a specialized mix meant only for that individual to individual marketing. Segment. – Also called focused or niche marketing. – Also called customization. – Example: Sports channels on TV; Religious – Example: Holiday packages channels on Sues 3 What are the various levels at which segmentation can take place.
Mans 3 It take place at the following levels: a) Single Segmentation: – One segment only. – The marketer caters to the entire
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