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Market Segmentatio1

Market Segmentatio1

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Published by: Lagnajit Ayaskant Sahoo on Oct 03, 2010
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11/02/2011

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Key segmentation questions:9 Market segmentation: the future10 SummaryFurther readingDiscussion questionsMini Case: The electric vehicle marketDiscussion questionsSection: Formulating and Implementing Marketing StrategyObjectives The objectives of this chapter are:to understand market segmentation and consider why it is used;to examine how companies segment markets;to explore different targeting stategies;to learn about the role and process of positioning in segmentation strategies;to consider how marketers can achieve the the most from market segmentaion.1 Introduction THE chapter begins by reviewing the underlying rationale and business benefits of market segmentation. Next, the three stages of the market-segmentation processare considered. Segmenting—the grouping of customers with similar needs—is dealtwith first. This begins with a review of consumer and business-to-businesssegmentation variables and concludes by considering the role of statistical analysesin segmentation research. The targeting stage, which is looked at next, involves anexamination of alternative targeting strategies and a review of the factors that mustbe considered by businesses making targeting choices. Positioning, the final stageto be examined, comprises an explanation of the underlying rationale, followed by areview of the process of positioning and repositioning. The chapter concludes byemphasizing the need for effective segmentation. The resources that businessesdevote to implementing and reviewing their market segmentation are enormous. There is an implicit assumption that this investment is justified. Possible reasons forimplementation problems are highlighted and guidance offered on how to get thebest out of market segmentation.In the mobile phone market, the products and marketing programmes must becarefully designed to appeal to the needs of different customer groups. Box 16.1shows how important it is for cellular operators to identify customer needs and use

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