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Microsoft Word - bases for segmentation.docx; Author: Home: Software used: PScript5.dll Version 5.2.2: File change date and time: 03:48, 30 November 2016: Date and time of digitizing: 03:48, 30 November 2016: Conversion program: Acrobat Distiller 10.1.10 (Windows) Encrypted: no: Page size: 612 x 792 pts (letter) Version of PDF format: 1.5
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [2] The S-T-P framework implements market segmentation in three steps: Segmenting means identifying and classifying consumers into categories called ...
Marketing planning or the process of developing a marketing program requires a detailed understanding of the marketing framework including Consumer behavior; Market segmentation and Marketing research. In the process of understanding the consumer market to be served, marketers may need to consider such issues as:
Hassan, Salah S. “A Strategic Approach to Understanding and Penetrating Global Segments,” Journal of Database Marketing, Vol. 3, No. 4, 1996 pp. 1–17. (Refereed) Hassan, Salah S. “Understanding the New Bases for Global Market Segmentation,” Journal of Consumer Marketing, Volume 20, Issue 5, 2003 with Stephen Craft and Wael Kortam.
BPO – Business process outsourcing; Comms – Communications sector; DIY – Do It yourself market; FMCG – Fast-moving consumer goods FSS – Financial services sector HoReCa – Hotel, restaurant, café [1] [2]
Approaches to segmentation will vary depending on whether the total available market (TAM) is a consumer market or a business market. Market segmentation is the process of dividing a total available market, using one of a number of key bases for segmenting such as demographic, geographic, psychographic, behavioural or needs-based segments.
A psychographic segmentation model should be able to accurately predict the segment to which a consumer belongs with an acceptable level of confidence. Often there are trade-offs involved. For instance, a model may attain a higher level of predictability with a greater number of segments, but too many segments become unwieldy and infeasible to ...