Effective Market Segmentation

When a market is effectively segmented, less resources are put in place hence culminating into profitability to the firms.   For Market Segmentation to be effective, the following conditions are necessary. The market segment must be; Measurable The size and buying power of the segment should be measurable. This […]

Evaluating Market Segment

Firms are developed for purposes of growth and profitability. Market segments are therefore established. Before establishing a market segment there are three main factors to consider in evaluating the same; Segment Size and Growth. Marketers will want to find out whether a potential segment has the right size […]

Market Segment Selection Pattern

Having evaluated different segments, a company can consider from several patterns of target market selection. Single Segment Concentration. By adopting this pattern, a firm concentrates on a single segment for exploitation for example Subaru car manufacturers concentrate on small car market. If a firm captures leadership in a […]

Market Segmentation

Market segmentation is the subdivision of a market into small homogeneous sub-markets which an organization can successfully satisfy. I have  subdivided the market into four basis as follows; Demographic Basis This consists of dividing the market into groups on the basis of certain demographic variables. Age Consumers needs and […]

Marketing Management

It is the process of planning and executing concepts, pricing, promotion and distribution of goods, services and ideas to create exchanges with target customers that satisfy customers and achieve organizational objectives. I have five Marketing Management Concepts through which organizations’ goals can be achieved. Production Marketing Concept This […]

Marketing

Marketing has been defined in so many ways depending on the product or services being offered. Here are  two ways as to how I define marketing. It is a social and managerial process through which groups and individuals obtain what they need and want through exchanging goods of […]