One company may market lawn mowers to rural communities where most residents have a yard but target city dwellers with weed trimmers or leaf blowers for manicuring lawns or sidewalks. Local Retailer Local discount or department store retailers that sell a variety of product categories appealing to different demographics often use local geographic segmentation in their marketing efforts.
Atomization This method involves dividing the market into very small segments, as small as one person segment in a few cases. In areas with distinct winter, spring, fall and summer seasons, swimwear normally is promoted for a few months, including late spring and the summer swimming season.
Customers are segmented on the basis of their attitude towards brand loyalty, or user status indicating the first time buyers, potential buyers, benefits sought etc.
If you operate a tanning salon, your audience varies in age and gender but is is concentrated largely in the local community. Starbucks often distributes coupons for coffee drinks in certain regions when it opens several new stores. Market segmentation can be implemented in three ways: With the help of segmentation firms can anticipate the requirements of its potential customers to a greater extent, by determining the group of people best suited for a particular product or service offering.
Seasonal Products Seasonal products, such as coats and winter gear and swimwear and beach attire, often are marketed to geographic segments.
New Territory In some situations, companies use geographic segmentation selectively to target new local territories or regions.
Community Size The size of a community also plays a part in geographic segmentation. Identifying different market segments is the first step in target marketing.
Population density can also impact decisions regarding transportation with rural customers requiring more personal vehicles than urban citizens.
This is an example of regional segmentation based on geographic consumer preferences and product availability. Small chains may find similar opportunities to achieve supply and demand advantages in select geographic markets.
Markets can be segmented on the basis of following characteristics. This method involves targeting a specific segment or niche which the main competitors of the organization are not able to reach. Grits, for instance, are common in the South and Southeast regions.
Such firms operating across the boundaries alter their marketing mix based on the different requirements of consumers with in each geographic segment they operate in. Geographic segmentation is based on variables such as: Seafood, while enjoyed elsewhere, is marketed more heavily along the east and west coasts, where supply is fresh all year.
An organisation achieves this by implementing target marketing strategies. This kind of segmentation involves division of customer base by continent, country or state etc. As no two individuals are same, they have different requirements and should be treated differently.
Winter gear is promoted for several months leading up to late fall in the Midwest and northern regions of the United States where harsh weather is common.
Small town businesses, for instance, often flood the local market with radio and newspaper ads that have broad local reach and affordable rates. In this case, the company has a promotional objective of customer growth in a new market, but it may emphasize other goals, such as increased market share or higher profits, in more established markets.
This method is mainly adopted by companies offering expensive and highly customized products or services. Growingly, with the increase in competition target marketing is a more method as opposed to the mass marketing as it helps the organisations to reach greater customer needs.
Customer groups can also be formed on the basis of size of population of a particular region. This marketing approach is common for small businesses that serve a wide demographic customer base in a local or regional territory.Jun 26, · Geographic segmentation is a common strategy when you serve customers in a particular area, or when your broad target audience has different preferences based on where they are located.
This. Geographic segmentation is based on variables such as: Region: This kind of segmentation involves division of customer base by continent, country or state etc. Customer groups can also be formed on the basis of size of population of a. Concept Of Market Segmentation Marketing Essay.
The marketing theory demonstrate that to develop a successful marketing strategy correctly, service marketers must develop segmentation strategies based on the attributes and. The Market Segmentation In Identify The Target Market Marketing Essay.
Print Reference this. Published psychographic and behavioral segmentation. First, the geographic segmentation is to collect and analysis the information of consumer by different geographical units, such as nation, regions, states, municipalities, cities or.
A market segmentation theory is a modern theory that tries to explain the relation of yield of a debt instrument with its maturity period. This theory brings together potential buyers into segments with common needs, that will respond to a marketing action.
The first and most important point of.
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