Market Segmentation Market Segmentation means breaking down the total market into self contained and relatively homogeneous subgroups of customers, each possessing its own special requirements and characteristics. This enables the company to modify its output, advertising messages and promotional methods to correspond to the needs of particular segments. Accurate segmentation allows the firm to pinpoint selling opportunities and to tailors it's marketing activities to satisfy on consumer needs. Through the process of market segmentation, there …
showed first 75 words of 2109 total

showed last 75 words of 2109 total
…since the firms will be benefit in terms of a better competitive position for its products, resulting in greater sales and profitability. On the other hand, customer will also have benefit from it. This is because a customer will get a greater satisfaction from the goods and services that they purchased. This is a particularly important point as the whole rationale of the marketing concept is increased business effectiveness through the provision of consumer satisfaction.