Professional Documents
Culture Documents
Assignment 1
Market segmentation was first described by Smith (1956). The current prevalence of
segmentation as a marketing-related concept and its contribution to strategy is accepted
(e.g. Beane and Ennis, 1987; Wedel and Kamakura, 2000; Hassan HYPERLINK
"https://www.emerald.com/insight/content/doi/10.1108/17473611211264068/full/html"et al.
HYPERLINK "https://www.emerald.com/insight/content/doi/10.1108/17473611211264068/
full/html", 2003; Neal and Wurst, 2001; Wind, 1978
Market segmentation is a crucial marketing strategy. Its aim is to identify and delineate market
segments or “sets of buyers” which would then become targets for the company's marketing
plans. The advantage to marketing management is that this technique divides total demand into
relatively homogeneous segments which are identified by some common characteristics. These
characteristics are relevant in explaining and in predicting the response of consumers, in a given
segment, to marketing stimuli (Tynan and Drayton, 2010).
The marking scheme for these assignments is as follows. Please note that your work will be
marked taking all aspects into account, and this is for guidance only. Your work may have
relevance to more than one of these categories, and your mark will be determined as an
aggregate which takes into consideration each of the components in the table above: