Marketing segmentation is the act of identifying and profiling distinct group of buyers who might prefer varying products and marketing mixes. It pushes the organization to achieve its marketing goal. Market segmentation offers the organization the following benefits:
a) Increase in market opportunities
Through segmentation an organization comes closer to a particular group of customers, hence it becomes more responsive to the changes in the market. It can develop new product according to market demand very soon.
b) Understanding of the customers
A segmentation perspective leads to a more precise definition of the market in terms of consumer needs. Thus, it improves management understanding of the customer and more importantly, why he/she buys.
c) Market 0bjectives
It leads to a precise setting of market objectives. Targets are defined operationally, and performance can later be evaluated against these standards.
d) Sound marketing programme
On the basis of market segmentation an organization can prepare and fallow a sound marketing programme.
e) Strengthen management capabilities
A continuous programme of market segmentation strengthen, management capabilities in meeting changing market demands. Organization.
f) other benefit
IT provides various types of information which are useful in marketing research, product development, evaluation of marketing activities, facilities and distribution etc.
a) Increase in market opportunities
Through segmentation an organization comes closer to a particular group of customers, hence it becomes more responsive to the changes in the market. It can develop new product according to market demand very soon.
b) Understanding of the customers
A segmentation perspective leads to a more precise definition of the market in terms of consumer needs. Thus, it improves management understanding of the customer and more importantly, why he/she buys.
c) Market 0bjectives
It leads to a precise setting of market objectives. Targets are defined operationally, and performance can later be evaluated against these standards.
d) Sound marketing programme
On the basis of market segmentation an organization can prepare and fallow a sound marketing programme.
e) Strengthen management capabilities
A continuous programme of market segmentation strengthen, management capabilities in meeting changing market demands. Organization.
f) other benefit
IT provides various types of information which are useful in marketing research, product development, evaluation of marketing activities, facilities and distribution etc.
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