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i think there is no need for segmentation under present scenario
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above said are true
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According to my point of veiw.. Segmentation is important. Market now a days highly competitive. Companies must target one segment to make repo and goodwill. Aftr sucess add more segments and expand business.. Co. Successful when it offers greater compitative advantge to target segment. Segmentation clear the focus and objective of sale which increase value of customer and profitability.
yhe solution hai??
Marketing is a systematic process to approach the right audience, it is necessary to approach the targeted population at right time. Segmentation in marketing is a very important strategy to cater the audience. While making plans for marketing segmentation is the important step because it clears the direction and focus of the company it directs toward the market. Through segmentation we increase the effectiveness it reduce the wastage of time and resources on wrong population this will increase the communication among the customers and the company which will alternatively increase the productivity.
MGT301 GDB idea Solution
Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.
Need to incur time and money for segmentation:
A company cannot devise a market strategy without market segmentation. If they don’t do segmentation, they do not know whom they have to sell and what they have to sell. Thus without segmentation, target group is just a population and will never understand how can target them. That’s why there is need to incur time and money for segmentation.
If the product is of high quality then need of Segmentation
Quality is achieving or reaching for the highest standard as against being satisfied with the sloppy or fraudulent………… this is incomplete……..
Advantages of Segmentation:
1)Focus of the Company:
Segmentation is an effective method to increase the focus of a firm on market segments. If we have better focus, obviously we shall have better returns.
2)Increase in competitiveness
Naturally, once our focus increases, our competitiveness in that market segment will increase. Market share might increase and the chances of a new competitor entering might be low.
By using segmentation, Customer retention can be encouraged through the life cycle of a customer.
4)Have better communication
The communications of a company needs to be spot on for its TARGET market. Thus if there is need of a target market, there is also need of segmentation.
Segmentation increases competitiveness, customer retention, and communications. Thus if it is affecting so many factors of your business, then definitely it affects the profitability of the firm.
Segmentation is the process of splitting or cutting anything any region or market in the sense we can say that the division of land in the market it means scenario zoning or regions Business. A marketing company that works in any region, for example, in Pakistan for that divides Pakistan in the Punjab sector and Sindh, KPK, Baluchistan and all region operating by two Director is responsible for this region.
This technology allows the company to sell its products to consumers better and right. In marketing have smaller markets also to be covered by marketers to that in order to achieve the full target and target company has to cover all sectors and not then its where the old rural area customers are not too much but the goal of a large company's cobber each of the clients where there are human known to be market segmentation so that sense marketing is an important process in the field of marketing.
I will give you a simple example of global company (Nestle), a company in all over the world, and it occupies a sale of a large counter in many of the world and I think in Pakistan, the product of nesting do not need a lot of promotion for a product Nestle has a sale counter, but in spite of all this, fragmented Nestle him regions and to maintain the value and the value of its products and its workers and a team doing their jobs in the market to maintain the value and quality of their products because every company that wants this moves that their products everywhere in the electronic market.
Being a Marketer it is necessory that firstly we have need to analyze the market and then we will able to launch the product without analyzing the market it will result in loss. No doubt that product is very high quality but the thing is that where we sale that high quality product it can be only sale in the elite class or big shoping mall not in a common market. cause is that the high quality product will be costly that will be not affordable for all. So it is neccessory that we should first analyze and segmentize the market so that we will be able to achieve our targets. The high quality product is only for a specific segment of market. So i think there is no need to incure time and money for segmentation as product is high quality.