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Important information about Segmentation

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Why is it both important and necessary to segment markets and target groups of customers, rather than market to all possible consumers? Give examples.

Suppose your company has just acquired a firm that produces battery-operated lawn mowers, and strategists want to implement a market-penetration strategy. How would you segment the market for this product? Justify your answer.

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This explanation provides you a comprehensive argument relating to segment markets.

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Why is it both important and necessary to segment markets and target groups of customers, rather than market to all possible consumers? Give examples.

It is important and necessary to segment markets and target groups of customers because customer needs in different segments is different. In addition, customer liking and inclinations vary in different segments. If the marketer attempts to market to all possible customers then all customers will not favorably view the product. ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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