Segmentation is the process of dividing or bifurcating large unit into several smaller sets or units which may have or not have similar characteristics. As you read this line, you understand what it actually means. But have you ever think what is market segmentation and how many types of market segmentation are there? No, you have never thought too deep on this topic? If so, no need to worry. This blog will clear all your doubts in simple lines so that you will get full knowledge of the topic. Moreover, you can also hire Market Segmentation assignment writing help online without any difficulties.
What is Market Segmentation?
Market Segmentation comes under the concept of marketing which divides the whole market into sub-pieces or subsets consisting demand, preference and taste.
You can say one market segment is totally different from other segments of marketing. Where one small market is full of people who are money minded.
Individuals respond according to the fluctuations appeared or continuing in the market. If you want help for assignment, you can hire this best academic solution provider company.
There are Basically Three Types of Market Segmentation are There, That are as Follows:
This market segmentation is done according to the lifestyles of the people. It basically depends upon the interest, attitude, values of the customers which help the manufacturers or marketers to understand the demands of the customers, thus produce products according to the needs to boost their sales figures. Buy assignment now from their website and increase your scorecard.
This segmentation is done according to the behaviour of the customers. For instance, those people who are regular costumers of any brand brings loyalty towards the brand which ultimately helps the company to segregate their customers from a large market. Each group is consists of people who are loyal to a specific brand.
Classification of the market is done according to the geographic location. Manufacturers cannot follow the same strategies in different places as it must be changed according to the requirements of the location.
For instance, Nescafe, a product of Nestle, is sold all over the year in cold areas of the particular country. However, they sold their products in a limited time period where there is a well-defined winter and summer season.
Similarly, McDonald’s company in India does not sell the beef products as they fully understand it is against the religious value of the Indian people but in the US, they freely sell and promote their products which contain beef. Thus, you can see only a smart entrepreneur can understand the value of geographical location in business.
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