Marketing segmentation variables essays

With this strategy, your market segments have shared familiarity with your products.

Essay on Market Segmentation

References 2 University of Delaware: Along with activities, lifestyle segmentation is driven by characteristics such as shared interests, opinions, attitudes and values of customers. This method involves targeting a specific segment or niche which the main competitors of the organization are not able to reach.

Geographic segmentation is based on variables such as: Customer groups can also be formed on the basis of size of population of a particular region. Research has consistently shown that BlueCross BlueShield has helped urban communities make informed healthcare decisions that are objective and improve the quality of healthcare needed and received.

Customers are segmented on the basis of their attitude towards brand loyalty, or user status indicating the first time buyers, potential buyers, benefits sought etc. Virginia Wisconsin BlueCross BlueShield has to appeal to these sectors of the populace through a different means because of the mission and values associated with WellPoint: Market Segmentation About the Author Neil Kokemuller has been an active business, finance and education writer and content media website developer since Targeting new prospects is also distinct from targeting brand-loyal customers.

As no two individuals are same, they have different requirements and should be treated differently. This kind of segmentation involves division of customer base by continent, country or state etc.

Since its inception, BlueCross Blue Shield Association has been committed to providing healthcare options to areas of all kinds. Car companies often use benefits segmentation to target a broad market looking for different benefits, such as economy, performance, luxury or status.

Thus, market segmentation is the process of dividing the market into a number of groups that are mutually exclusive, while individuals exhibiting similar traits fall under one group.

Conclusion Market segmentation allows for customer retention and addresses the needs of the consumer in an efficient approach. Lifestyles and Psychographics Lifestyles and psychographics segmentation is an approach that places emphasis on the shared activities, interests and behaviors of particular customers.

Benefits sought, usage, loyalty, prospect or customer status are common characteristics.

Market Segmentation Variables & Characteristics

Identifying different market segments is the first step in target marketing. Such firms operating across the boundaries alter their marketing mix based on the different requirements of consumers with in each geographic segment they operate in.

The healthcare arena is able to decide in a cost-effective manner how best to appeal to certain segments of the population.Concept Of Market Segmentation Marketing Essay. The marketing theory demonstrate that to develop a successful marketing strategy correctly, service marketers must develop segmentation strategies based on the attributes and behaviour patterns of target customers.

Communication, marketing mix, media play integral part of mint-body.coming is a vital part of any organization and it important for managers to understand marketing in depth because it is the useful tool to achieve organizational objectives.

Market segmentation is the process of breaking your total target audience into separate groups of customers with similar traits or interests. The characteristics used in segmenting relate to your.

Pharmaceutical Marketing Segmentation - Marketing segmentation is a tool used by in business by marketers to hone in on their potential consumers in order to satisfy customer needs with the right goods or services (Kurtz, pg.

). Segmentation emerges as a need for marketing managers when it is needed to make their product at right place. The concept of segmentation was introduced in by Smith, who defined it as "viewing a heterogeneous market (one characterised bydivergent demand).

Demographic segmentation Demographic segmentation is the process of segmenting market based on variables such as gender, family size, family life cycle, income, occupation, education, religion, race and nationality. This is the most popular bases for segmenting customer groups because consumer needs, wants and usage rates often vary closely.

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Marketing segmentation variables essays
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