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Essay / Research Paper Abstract
This 14 page paper looks at the issues and the challenges for the marketing managers in consumer goods companies when applying market segmentation including why market segmentation matters and how it relates to target marketing and positioning. The bibliography cites 10 sources.
Page Count:
14 pages (~225 words per page)
File: TS14_TEsegments.rtf
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Unformatted sample text from the term paper:
1. Introduction Marketing of consumer products is becoming more complex, with increased levels of competition as barriers to market entry are falling, media forms have increased the
potential sources of information and resources that can be used in marketing and consumers themselves are generally becoming more knowledge as markets mature. In line with this as consumers gain
more knowledge their expectations also increase, which can also drive forward the need for innovation and development of new products. These all put pressure on the marketing function and the
way that consumer goods can and are marketed. In all efforts to market good markets have sought to gain an advantage over those to whom they wish to sell the
goods. This paper will look at many of the various elements of marketing and the way marketers are dealing with these challenges. The paper will consider the different tools and
approaches used include aspects such as segmenting, positioning and targeting and then look at the way in which marketers will uses these approaches to help increase the value of the
marketing they perform. However, of all these the most important is the starting point of segmenting and the ability to use this in the way marketing takes place. 2. The
Importance of Segmenting For the marketing of a product there are three main ingredients needed which can be referred to as STP:
segmentation, targeting and positioning (Kotler, 2003). Firstly we will consider what is meant by segmentation and why it is so important, especially for consumer goods
Segmenting is the division of the consumer base, or potential consumer base into categories where there are similar characteristics. There are a number of ways a market
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