Market Segmentation Case Study

Do we need to segment the Market? Market segmentation is one of the oldest marketing tricks in the books. A company cannot devise a market strategy without market segmentation. Market segmentation is an important basis of many successful marketing strategies. Choosing the right segments helps tailor the marketing mix to the customers need. Therefore, it helps to invest marketing spending more effectively. When it comes to the customers all kinds of information have been used in segmenting markets. (Recklies, 2016) For most customers, their attributes are easily identified. The marketing segmentation is the process of breaking down the intended product market into manageable groups; it can be broken down by demographic, geographic, psychographic,

packaged-food company that has decided to market its product in Europe can be very difficult. Marketing managers control all the communication between a company and its customers. Being a marketing manager, one wants to create marketing mixes that meet the segment’s needs. Segmenting the market takes some effort and resources, and designing a campaign that appeals to several segments takes a great deal of time. If I was a marketing manager, I would love to choose all the marketing segmentation schemes because I would want to target all markets, since we are trying to market our products in Europe I would mainly focus on demographic and geographic segmentations. Demographics is one of the simplest type of market segmentation used. The reason I would use demographic segmentation is to market the right population into using our products. Demographics is obsoleted because it narrows the differences in income, education, and occupational status. (Iacobucci, 2013) If a market manager reaches out to all potential consumers, the company has a great chance being more profitable. Why? Most of the consumers in the same demographic group may have similar needs and lifestyle. Therefore, using demographic segmentation usually leads to customer retention and loyalty. The reason for using geographic segmentation, is because customers will have different needs, based on the geographic location in some areas they are similar, which is

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