The paper "Market Segmentation Communication and Consumer Decision-Making" Is a great example of a Marketing Assignment. Marketing of a product is a very engaging phenomenon that requires the people who carry it out to fully understand the activities that are to be carried out. The marketing of a product is one that will determine the speed at which products will move the market. Therefore best methods should be devised to ensure successful market campaigns are carried out. Customers are the target in any marketing campaign. Different methodologies devised so that the reach of customers with the aim of increasing the sales revenue of firms.
One of these is market segmentation which involves trying to divide consumers according to their needs. When carrying out segmentation also, communication in the market is taken into account to ensure that customer in different market segments gets the right information. When the combination of market segments and the right communication in the market is done, the experience of successful market campaigns will prevail. Different channels of communication used in marketing are to ensuring that a given market segment reached with ease without a struggle. BODY Market segmentation is a practice done to divide consumers into common characteristics.
Segmentation is said to be a form of targeting and positioning products so that they can reach the desired market with easy. There are many methods used to classify consumers according to the characters portrayed which seem to be similar. The following are ways in which market segmentation is carried out. The process of market segmentation based on Demographics portrayed by society. Demographics include; gender, age, color, household, ethnicity, marital status profession, education level and size of households.
All the mentioned factors found in demographics usually play a major role when it comes to the manufacture and distribution of products. Different groups in the community will tend to show interest in a given product which the other group might not be interested in. An example is where youths are interested much in smartphones compared to the old generation. Also, women may be interested in sanitary towels whereas men will not. When doing this segmentation, marketers will always be considering which population best matches with a given tag product and how easy to access this group that can buy this product.
Demographics is one of the best ways through which products can reach the targeted population. There are better ways of communication that can be used to target the different demographic group. An example online platforms and internet-based platforms can best reach young people where magazines, TVs, and books can easily convey a message to the old generation. When doing segmentation based on demographics, it is good to know which communication platform that can easily reach them (Hunt, 2004, pg.
15). On top of this, psychographics is also another way to which segmentation can be based. There are those who have been stable in reasoning. Those that can easily change the perception of a given product and those who have a fixed perception regarding a given product. There are individuals who portray leadership traits, who like lifestyle, and different attitudes. As marketers, it is good when marketing to classify this kind of individuals according to their traits. When it comes to communication to these group of people, it's good to use those channels that can influence their character so that they can buy the products.
For example, those who easily change the perception about a given product are good for the televisions to be the way to deliver the message whereas those individuals who use have a difficult change regarding perception the face to face method remains one of the best methods.
Hoyer, W. D., & MacInnis, D. (2004). Consumer behavior. Boston: Houghton Mifﬂin.
Hunt, Shelby; Arnett, Dennis (2004). "Market Segmentation Strategy, Competitive Advantage, and Public Policy." 12 (1). Australasian Marketing Journal: 1–25.
Lancaster G. and Massingham, L. (1988) Essentials of Marketing. Maidenhead, Berkshire, England. McGraw-Hill.
Reid, Robert D.; Bojanic, David C. (2009). Hospitality Marketing Management (5 ed.). John Wiley and Sons. p. 139.
Riley, Jim (2012). "Market Segmentation - Demographics". Tutor2u.net.
Smith, W. R. (1956). Product differentiation and market segmentation as alternative marketing strategies. Journal of Marketing. (Vol. 21, Issue 1, July). p3-8.
Wansink, B., & van Ittersum, K. (2004). Shopping decisions of travelers. Tourism Management, 25(3), 319–330.
Wickens, E. (2002). The sacred and the profane: a tourist typology. Annals of Tourism Research, 29 (3), 834–851.
Woodside, A. G., & Dubelaar, C. (2003). Increasing quality in measuring advertising effectiveness: A meta-analysis of question is framing in conversion research studies. Journal of AdvertisingResearch, 43 (1), 78–85
Woodside, A. G., MacDonald, R., & Burford, M. (2004). Grounded theory of leisure travel. Journal of Travel and Tourism Marketing, 14, in press.