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Market Segmentation For Companies Essay

1469 words - 6 pages

INTRO
Creating value for both customers and companies need some marketing research and some processes related with market segmentation.For making a effective and useful market segmentation,there will be some steps and some concepts that has to be known. The companies have to pay attention segmenting their products and entering a new market.Because of that, the company takes into consideration the all process of the market segmentation such as target marketing, segmenting consumer markets, segmenting business markets, segmenting international markets, brand value relations with customer value , benefits and disadvantages of segmentation.

SEGMENTATION AND CONSUMER SATISFACTION
Customers are the center point of all marketing processes because marketing focuses on customers.The actuality of marketing is to evaluate to provide benefits for both customers and marketers. .(pride,Ferrell, 2008; 3) Satisfaction of consumers needs and the creating value for customers are the most important notions for marketers in todays world. In the same way, if marketers satisfies the customer´s requirements, the existing products create high satisfied customer value and effective using of marketing mix for product to provide to sell easily.(Armstrong-Kotler,2011;33)For the customers, they do not care which segments are they exist or how companies allocate the customers into the segments.The most important value for the customers is the product and service that meets their requirements better than any other companies.
Market segmentation is splitting the market into analogical group or segments of customers and choosing the most proper groups or segments who share the same or similar needs.(pride-ferrell,2008;271) Market segmentation is about comprehend the requirement of consumers and companys strategy on those specific segments. On the other hand, for understanding the marketing concepts and marketing segmentation, perspectives of companies for customers and markets take a huge role in market segmentation. Some companies just manufacture some products for only manufacturing something new and calling a new products, these types of companies rule out the latent consumers requirements and desire . Primary focus of marketing theme has to be customer satisfaction for companies and marketers. .(pride,Ferrell, 2008; 9) At that time, Companies understand that they cannot reach all customers or cannot reach them with the same strategy in the market because consumers are countless and largely expansed.Also,needs of consumers changed a lot with purchasing trainings. Furthermore,the companies can make differences in their product range to serve vary segments and groups of the market.(Chapter 7 Customer-Driven Marketing Strategy: Creating Value for Target Customers, kottler,214) Segmenting markets create better matching of customer needs,increase profit,increase probability of growth,

Additionally, for achieving in market segmentation, five essential process...

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