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Assessing Market Segmentation

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Please provide references in APA format and minimum 200 words:

What is the most important reason for a firm to segment?

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Solution Summary

Firms segment to better satisfy the needs and wants of their customers.

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Source: The Art and Science of Marketing: Marketing for Marketing Managers , by Grahame Dowling. Oxford University Press © 2004
"For most organizations, market segmentation is a primary way to search for and exploit market opportunities.
Market segmentation—is the process of partitioning a heterogeneous market into a number of homogeneous groups of consumers.

Market segments—are groups of actual or potential consumers who can be expected to respond in a similar way to a product or service offer. That is, they want the same types of benefits or solutions to problems from the product or service, or they are expected to respond in a similar way to a marketing programme.
When customers are segmented primarily according to their needs, it is clear how products and services ...

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