Market Segmentation: How to do it, how to profit from it

Malcolm Mcdonald & Ian Dunbar

Physical

In Circulation

Segmentation and marketing mapping are core areas of the marketing syllabus. Dealing with market segmentation, this book features diagrams and market maps. It is intended for students and executives.

What will you learn from this book

  1. Understanding Customer Diversity: Market segmentation involves recognizing and understanding the diversity of customer needs, preferences, and behaviors.

  2. Identification of Homogeneous Groups: The book may emphasize the importance of identifying homogeneous groups within the market, where consumers share similar characteristics and needs.

  3. Tailoring Marketing Strategies: Market segmentation enables businesses to tailor their marketing strategies to specific customer segments, addressing their unique requirements.

  4. Effective Communication: Different customer segments may respond differently to marketing messages. The book may discuss strategies for effective communication tailored to each segment.

  5. Product Customization: Through segmentation, businesses can customize their products or services to better align with the preferences of specific target groups.

  6. Optimizing Resource Allocation: Market segmentation helps in optimizing the allocation of resources by focusing efforts on the most promising and profitable customer segments.

  7. Leveraging Data and Analytics: Effective market segmentation often involves the use of data and analytics to identify patterns and trends within the target market.

  8. Market Positioning: The book may discuss how market segmentation informs the process of positioning a product or brand in the minds of the target audience.

  9. Lifecycle Considerations: Understanding where different customer segments are in their lifecycle can impact marketing strategies. The book may cover how to adapt approaches based on lifecycle stages.

  10. Continuous Evaluation and Adaptation: Markets evolve, and customer needs change over time. The book may emphasize the importance of continuous evaluation and adaptation of segmentation strategies.

Language English
ISBN-13 9780750659819
No of pages 465
Font Size Medium
Book Publisher Butterworth-Heinemann
Published Date 18 Sep 2004

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