Evaluation of Market Segments
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Synthesize and integrate the scholarly marketing literature to create a conceptual model for evaluating market segments. Your model must accomplish the following:
Analyze major scholarly journals to identify conceptual models and theoretical frameworks for evaluating market segments.
Evaluate the major differences in how marketing journals and practitioner articles treat market segmentation.
Recommend how the differences in scholarly articles and practitioner articles can be resolved.
Describe a process for determining market segments.
Analyze the effect of internal and external forces on market segments.
Analyze the influence of market segments on marketing strategies.
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Solution Summary
The response addresses the queries posted in 974 Words, APA References
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The response addresses the queries posted in 974 Words, APA References
Evaluation of Market Segments
Introduction
A market comprises of different consumers, possessing innumerable tastes and preferences. Depending on their marketing approach and the nature of the products, marketers can adopt different levels of segmentation. The various levels of market segmentation can be as follows:
Segment marketing
Individual marketing
Niche marketing
Local marketing
Analyses of Scholarly Journals
In general, there are many scholarly journals that identify various conceptual models and theoretical frameworks for evaluating market segments like one of these journals is "Cooper Journal" that provides knowledge regarding the market segment and its association with persons. In this journal, author has focused on the motivation behind a purchase and in addition, it is been described that one of the most powerful tools for making purchase by a consumer is market segmentation. It groups people according to their distinct needs which helps in determining what types of consumers will be most amenable to a peculiar product or marketing message. These groups are known as consumer models (Brechin, 2002).
To build up these kinds of models, it is assumed by several scholars that marketers should classify their consumers according to some pre-determined set of demographics and geographic variables like age, race, education and locality. Some other advanced consumer models also comprise of psychographic and behavioral variables like knowledge's, lifestyle, values, mythos and decision-making practices.
Another significant journal is CPA Journal that explains the importance of segmentation in the present technological world. In this journal, author has described that IRS ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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