Using an organization and product of your choice, write a paper discussing the major segmentation strategies including demographic, geographic, and psycho-graphic that might be used to identify and target potential consumers for the chosen product. Evaluate each segmentation strategy, and determine which specific strategy (or strategies) might be appropriate for the chosen product.
To reach a target market in the business environment, the organization has to look for certain characteristics that define the population. This will subdivide the market economy into segments with define qualities that will enable organizations to reach the needs of the esteemed clients in the target environment. Market segmentation is a discovery process that searches for the distinguished characteristics that define a particular group of prospective consumers. This provides the organization with the needed information that will enable the company to provide the clients in the market with the needed custom made solutions. The segmentation strategies will enable the company to drive into complete market takeover (Market Segmentation, 2010).
Major Segmentation Strategies:
In the classifying of the different markets in the business environment, the four main bases that are used to segment the client market are; geographic segmentation, demographic segmentation, behavioral segmentation and psychographic segmentation. In this scenario the selected company will be Apple Inc., and their Mac Book portable product. In the geographic segmentation strategy, the ...
The solution outlines a few major segmentation strategies like demographic, behavioural and psycho-graphic segmentation for attracting customers in 697 words with references.