Good day, everyone.

 Just made work about segmentation in marketing. Never had that subject before but now i am very interested to study this field. So, what is it segmentation?

Marketing segmentation is the first step in defining and selecting a target market to pursue. Basically, market segmentation is the process of splitting an overall market into two or more groups of consumers. Each group (or market segment) should be similar in terms of certain characteristics or product needs.

Four basic factors that affect market segmentation are

1.      Clear identification of the segment,

2.      Measurability of its effective size,

3.      Its accessibility through promotional efforts, and

4.      Its appropriateness to the policies and recourses of the company. 

Marketing segmentation and targeting are particular important for finding customers that are the best match for a business products and services. It is not feasible to go after all customers, because customers have different wants, needs and tastes. Some customers want to be style leaders. They will always buy certain styles and usually pay a high price for them. Other customers are bargain shoppers. They try to find the lowest price. Obviously, a company would have difficulty targeting both of these market segments simultaneously with one type of product. For example, a company with premium products would not appeal to bargain shoppers.

• “Market segmentation is the process of splitting customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same, or comparable, set of needs satisfied by a distinct marketing proposition”  (McDonald, Dunbar 2004)

I hope you get an idea about segmentation. I found it very useful. It will help me to systemize people who potentionally can be custemers of particular product.

Thank you to be here, CHAO)