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Some critics of marketing have suggested that market segmentation and target marketing lead to an unnecessary proliferation of product choices that waste valuable resources.
Are the results of segmentation and target marketing harmful or beneficial to society as a whole?
Should firms be concerned with these criticisms? Give some examples to back up your argument either way.
NOTE: Examples and References are a MUST for the above discussion.
FoodProcessing.com points out that "new product innovation is the lifeblood the consumer packaged goods industry" (Troops, 2011). New products are a way for manufacturers to gain shelf space, billboard their brands, and interact more with retailers and consumers. Far from wasting valuable, resources brand extensions help companies stay focused on the changing tastes of consumers and help companies develop more market reach. In addition, brand extensions and target marketing allow marketers to react to the changing economy as people change spending habits. Currently the market is awash with new value items to react to the economy, organic products, and "green" packaging to address environmental sustainability.
The world continues to evolve and consumer's needs change and develop. Sports drinks are a good example. Gatorade was originally developed in 1965 to help football players replace electrolytes at the University of Florida. The product progressed and became a packaged product in the 1970's. Since then the drink has expanded, adding more science to the brand through its' work with athletes, and reacting to changes in the marketplace. In 2001, when ...
This detailed solution discusses if the results of market segmentation and target marketing are harmful or beneficial to society as a whole. It also evaluates if firms should be concerned with the criticisms that these actions lead to unnecessary proliferation of product choices that waste valuable resources. It includes links and examples, as well as references in APA format.