Buy custom How Companies Identify Attractive Market Segments And Choose A Target Marketing Strategy.
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| Topic: |
Business
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| Number of pages / Number of words: |
7 / 1681 |
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Their reasons for purchase are different. The Rolex buyer is looking for status and high quality, whereas the Casio buyer is looking for practicality and reasonable pricing. This technique of breaking up a market into smaller proportions is known as market segmentation. In the edition of ‘Principles and practice of marketing’, Jobber defines market segmentation as:
The identification of individuals or organizations with similar characteristics that have significant implications for the determination or marketing strategy...
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In the edition of ‘Principles and practice of marketing’, Jobber defines market segmentation as:
The identification of individuals or organizations with similar characteristics that have significant implications for the determination or marketing strategy.
(Jobber, 2001:185)
Once market segmentation is achieved it is more commercially viable to serve these customers in their similar submarkets...
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