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Understanding marketing principles--marketing segmentation Essay Example

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Understanding marketing principles--marketing segmentation

Geographical segmentation refers to the segmenting market according to different locations. Here, we mean different nations, countries, regions and many others. Different locations in the world require different services and goods. Climate, natural calamities, traditions and religions in different locations in the world offer marketers and investors great opportunities to carry on various activities.For example, while it is rainy most business people focus on selling raincoats, gumboots and umbrellas. At that particular time, this is the need that is in the market; hence they must take advantage and make profits during this time. This is the first step for marketers who aim at venturing into the international market. National boarders are the instrumental tools that are used to enhance geographical segmentation in the global market today.Demographic segmentation is also applied by marketers when it comes social-cultural factors. The main focus here is on the population and its composition in the market (Jobber 2009, p. This kind of segmentation is based on factors such as age, gender, economic background of the target populations, and their occupations. Stages in the life cycle of different consumers are also applicable in this kind of segmentation (Kottler & Armstrong 2012, p. People in different age groups have different needs and requirements when it comes to life. This could be clothing, the type of education that they want, clothing and leisure activities. Therefore, investors must differentiate their need and offer products and services that help in satisfying the gap that exist in the market. Life stages come with different needs, and this is the reason this market has to be segmented in this way (Kottler et al.Psychographic segmentation is a good example of undifferentiated segmentation that is mainly influenced by the lifestyles adopted by different kinds of people.The global market is comprised of people from different economic background and regions. Most of these people have adopted different hobbies according to their interests and resources which they have to spend on leisure activities (Lancaster & Reynold 2003, p. It is the role of the marketers to research and identify the gaps and the opportunities that are existing in a particular market and work towards satisfying the needs of that particular market. A baseline assessment can be done to identify the kind of

References

Baker, M 2007, The Marketing Book, Butterworth-Heinemann Ltd, Oxford page 4-16

Brassington, F. & Pettitt, S 2006, Principles of Marketing, Pearson Education Ltd, Harlow: 26

Drummond, G. & Ensor, J 2005, Introduction to Marketing Concept, Butterworth-Heinmann Ltd, Oxford:14

Groucutt, J., 2005. Foundations of Marketing. 5th ed. Basingstoke: Palgrave Macmillan: 32-34

Jobber, D., 2009. Principles and Practice of Marketing. 6th Edition ed. London: McGraw-Hill Publishing Co: 4-8

Kottler, P., Armstrong, G. & Saunders, J 2010, Principles of Marketing, Pearson Education Ltd, Harlow: 34

Kotler, P. & Armstrong, G. (2012) Principles of Marketing, 14th Edition (Global Edition), London: Pearson Education Ltd. 30-33

Kottler, P., Armstrong, G. & Saunders, J 2010, Principles of Marketing, Pearson Education Ltd, Harlow: 38

Lancaster, G. & Reynold, P 2003, Marketing, Palgrave Macmillan, Basingstoke: 5-8

LYNN, R. 1969, Marketing principles and market action, McGraw-Hill, New York: 6-26

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preview essay on Understanding marketing principles--marketing segmentation
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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