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Presentation transcript:

Market Segmentation

Marketing Market segmentation 1 Market segmentation pertains to the division of a market of consumers into persons with similar needs and wants. For instance, Kellogg's cereals, Frosties are marketed to children. Crunchy Nut Cornflakes are marketed to adults. Both goods denote two products which are marketed to two distinct groups of persons, both with similar needs, traits, and wants. In another example, Sun Microsystems can use market segmentation to classify its clients according to their promptness to adopt new products.

Marketing Market segmentation 1 Market segmentation allows for a better allocation of a firm's finite resources. A firm only possesses a certain amount of resources. Accordingly, it must make choices (and incur the related costs) in servicing specific groups of consumers. In this way, the diversified tastes of contemporary Western consumers can be served better. With growing diversity in the tastes of modern consumers, firms are taking note of the benefit of servicing a multiplicity of new markets.

Marketing Market segmentation 1 Market segmentation can be viewed as a key dynamic in interpreting and executing a logical perspective of Strategic Marketing Planning. The manifestation of this process is considered by many traditional thinkers to include the following;Segmenting, Targeting and Positioning.

Market segmentation 1 Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs, and then designing and implementing strategies to target their needs and desires using media channels and other touch-points that best allow to reach them.

Market segmentation - Segmentation by Demography 1 Reid, Robert D.; Bojanic, David C. (2009). Hospitality Marketing Management (5 ed.). John Wiley and Sons. p ISBN Retrieved "[...] market segmentation can be based on the benefits that consumers are seeking when they purchase a product."

Market analysis - Market segmentation 1 As a consequence, market segmentation is indispensable

Marketing campaign - Market segmentation 1 In another example, Sun Microsystems can use market segmentation to classify its clients according to their promptness to adopt new products.D.S

Marketing campaign - Market segmentation 1 Market segmentation can be viewed as a key dynamic in interpreting and executing a logical perspective of Strategic Marketing Planning. The manifestation of this process is considered by many traditional thinkers to include the following;'S'egmenting, 'T'argeting and 'P'ositioning.

Labor market segmentation - Overview 1 The theory of 'labor market segmentation' contrasts to the views of neo-classical economic theory, which posits the existence of a unified market for labor, consisting of buyers and sellers in open competition with each other

Labor market segmentation - Overview 1 Typically, labor market segmentation splits the aggregate labor market between the primary sector and the secondary sector

Labor market segmentation - Historical background 1 The labor-market segmentation theory revolves around the identification of a split between two analytic divisions in the economy and the labor-market.

Labor market segmentation - Theoretical explanation 1 This model of the labor market segmentation has been developed over the years to accommodate the fact that different job professionals work in completely different job markets

Labor market segmentation - Theoretical explanation 1 The concept of [ 1.websitetestlink.com/wp- content/uploads/2008/10/globally-segmented-labor- markets1.pdf Globally Segmented Labor Markets] by John Asimakopoulos.[ 75.short Critical Sociology] argues within a Marxist political economy framework using Social Structures of Accumulation theory, developed by American economist David Gordon (economist)|David Gordon, that neoliberal globalization has expanded labor market segmentation internationally

Labor market segmentation - Labor market segmentation debates and propositions 1 Workers who are in the similar trade are treated differently according to the sector they are placed in. The differences in the labor market segmentation imply differences in the way which they are trained, allocated, organized and paid. This has to be directly related to the way in which the labor process is organized. The two sectors organize the skills and education credentials.The Structuring of Labor Markets

Labor-market segmentation - Overview 1 The theory of 'labor market segmentation' contrasts with the view of neo-classical economic theory, which posits the existence of a unified market for labor, consisting of buyers and sellers in open competition with each other

Labor-market segmentation - Theoretical explanation 1 The concept of [ 1.dfw1-1.websitetestlink.com/wp- content/uploads/2008/10/globally-segmented- labor-markets1.pdf Globally Segmented Labor Markets] by John Asimakopoulos.[ /2/175.short Critical Sociology] argues within a Marxist political economy framework using Social Structures of Accumulation theory, developed by American economist David Gordon (economist)|David Gordon, that neoliberal globalization has expanded labor market segmentation internationally

Motel - Market segmentation 1 New limited-service brands from existing franchisors provided market segmentation; by using a different trademark and branding, major hotel chains could build new limited-service properties near airports and freeways without undermining their existing mid-price brands

For More Information, Visit: m/the-market-segmentation- toolkit.html m/the-market-segmentation- toolkit.html The Art of Service