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market segmentation

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M3 Target Marketing Target Marketing is making all marketing decisions, a important point on a particular amount of people who you want to reach. Target markets are normally different types of buyers who have similar common needs, desires and characteristics that a business chooses on serving. A business will normally need to recognize their target market in order to sort its everyday jobs and manage with the normal demands of this particular market place. Target marketing can be very helpful to a business as it outlines the marketing strategy. By using marketing strategy it's useful as it helps a business be more able and successful on aiming on their chosen target market that they wish to please. Not only can target marketing benefits the business but it can also be helpful for the customers that a business has chosen on pleasing as they are presented with what they wanted which meets their needs and wants. In order to satisfy these desires a business has to assess the different segments which are available and decide how many to please and which ones to serve. As it's not simple to segment a market a company will once again need to do market research the different variables of the markets and combine with other variables to find its perfect target market. ...read more.


This phones is mostly aimed at this market which means that people who Branding Branding is like setting names for products. Nobody would set up in business or launch a new product without giving it a name. Branding is a very important part of promotion. It can help a business to set up an identity to the product. Furthermore, 'Branding' contributes to the value and financial viability of businesses, just like their products, fixed assets and input. Businesses therefore would spend large amounts of money on TV and newspaper advertising campaigns, in order to end up with name that foremost in everyone's mind. Just think of 'Coca-cola' and 'Pepsi' competition, they both spend an obscene amount of money in promoting their brand each year, in order to become the dominant brand. We can also notice that many of their ads don't even contribute to its product, but rather, selling their brand and try to create "brand awareness" as well as "brand loyalty. As they simply want to create a well known brand. This becomes apparent as we just see how powerful 'branding' can be as a selling tool in the multi-media marketing environment. Such good job at impressing its brand into customers mind may also gain advantages in competing with other brands/products. ...read more.


Although it is an expensive tool, which some businesses may not be able to afford the amount of money for 'branding.' Such businesses might results with some disadvantages when compare with a well-branded business, however for some cases/markets, branding may not be as important to consumers, such as plants. Ultimately business is only as good as the identity that underpins it, as 'branding' allows businesses attract new customers and make "established" customers return time and again. Thus, increases ones' profit. Conclusion The use of segments enables a company to specifically target an audience within a population. An example would be if I asked all of you what you would go out and spend fifty pounds on if I were to give it to you now. The chances are that everyone would come back with a different suggestion. However it I likely that some of you would go and buy clothes, some you would go and buy CD's or DVD's and some of you may possibly save the money instead. By grouping people together it is possible to target a product at an audience that will wan to buy the product. This should ensure a return on investment quickly for the producer and could lead to rapid growth. However a universal product is unlikely to appeal to a wide range of people so it is possible for a producer to create products for different market segments ...read more.

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