MARK1020 Lecture Notes - North American Industry Classification System, Lincoln Near-Earth Asteroid Research, Applied Digital Data Systems
18 Feb 2013
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Why segment markets: what market segmentation means. Buyers into groups that (1) have common needs and (2) will. This results in groups of people, called market segments, The existence of different market segments causes firms. To use a marketing strategy of product differentiation: The firm uses different marketing mix activities to help. Consumers percieve the product as being different from. The need to relate such needs and benefits. Firm can take, such as using one or more of. Market segmentation is only a means to an end: A market-product grid is a framework to relate the. Offered or potential marketing actions by the firm. Thus, the cells in the grid reveal the approximate. Size of the market by market segments and product. A business firm will go to the trouble and expense of. Segmenting its markets when this action will increase its. Revenues from segmentation, it should not attempt to. One product and multiple market segments when a.
