ITS - EMO - 004 - Segmentation
Without doubt it would be ideal for a company to offer a personalised product to each of its clients. As this is virtually impossible, we need to look for ways to offer products that are personalised for different groups or segments of the market. Todays markets are more volatile than before and possibly the traditional mass media advertising focus is no longer appropriate. One option is to target different niches of market where we have the resources to satisfy that niches needs and wants. This is possible with Market Segmentation. That is, dividing the market into groups of potential clients with similar needs and profiles which possess similar buying habits.
In this unit, you will learn about market segmentation and its importance to international marketing.
This will be achieved by :
- Analysing the need for segmentation
- Examining the most common segmentation criteria
- Outlining statustical studies on segmentation
- Detailing some strategies that can be applied to new export markets.