It is not possible for companies to meet the needs of all the consumers in a population. Therefore, most companies have adopted market segmentation to meet the needs of their specific customers. Market segmentation involves dividing the consumer into segments or groups based on behavioral, psychological, demographic, and geographic factors. Market segmentation is done to target the marketing strategies to the potential customers (Athanassopoulos, 2000).
Why the situation needs attention
People have varied needs that cannot be satisfied by one particular product. Certain people are more interested in a particular product than others are. Even the interested people will buy a certain product in different quantities. The interest of some consumers may vary with price while others may not. Therefore, it is important for the marketer to single out these classes of different types of consumers; this is the market segmentation process. Marketers need to identify the groups of consumers with similar needs so that they can tailor their marketing strategies towards them. This hel...
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...an introduction that will brief the study participants on the study purpose and encourage them to answer the survey questions truthfully. The second section will focus on the participants’ demographics such as age, income, gender, family life cycle, and their purchasing behavior. The third section of the questionnaire will contain questions focusing on the consumer preferences when they buy products from the business.
Distribution of the questionnaire: Questionnaires will be distributed by hand to the customers as they purchase their products. For the customers purchasing over the internet, the questionnaires will be emailed to them. They will be requested to return the questionnaires upon completion using the same method it was delivered to them.
Interviews: structured interviews will be conducted for the consumers who will be unwilling to fill the questionnaires.
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