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Essay / Research Paper Abstract
This 6 page paper looks at the practice of segmenting a market, considering how it is done and the benefits that this may achieve. The potential difficulties that segmenting can bring, in terms of limiting market choices appeal. Real life examples are used to illustrate the points raised. The bibliography cites 7 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEbenseg.rtf
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Unformatted sample text from the term paper:
the firm sells it is advisable that the firm understands its consumers. This allows a firm to design goods and services that will appeal to its customers, and then market
them ensuring that the advertising appeals to the customers that are likely to buy the goods or services. In most cases although a firm would like to sell to as
many people as possible, there will be a specific target market that are more likely, or more suited to buying the goods. For example, it is most likely that it
will be parents of babies that will by nappies, other target markets may not be as clear, but still present, for example, vegetarians may be targeted by a firm making
cruelty free cosmetics, equally the target market may be a different group of women based on age, values or even skin type or color. A concept that can be
very useful in helping to define and then market to the different types of customer is segmentation. Segmenting is the division of
the consumer base, or potential consumer base into categories where there are similar characteristics, this allows the firm to look more closely at the target markets, decide which target markets
are best suited to their products and design and market with increased understanding of those markets. In order to assess this concept
and how useful it can be we first need to look at how segmentation to take place. There are a number of ways a market can be segmented. Traditional methods
of segmentation may include demographics dividing the market by characteristics such as age, gender or ethnic background (Hooley et al, 2004). Other psychical attributes may be used, such as
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