Market Segmentation In Golf

Market segmentation is one of the most important processes in modern marketing. This process takes a large heterogeneous market and divides it into smaller segments (or sub-markets) that present more homogeneous characteristics with regard to the product or service of a business. With this division, it can find many departments from which they choose the ones that it has the best prospects for their case, ie the so-called target markets where it concentrates its efforts and resources on marketing(Wedel and Kamakura 2000). The time when one could make something that is "all for all" has gone unswervingly; those who attempt to produce chameleon products usually fail. Of course, this does not mean that a company cannot have a product targeting

So, a hotel which wants to approach those who involved in golf should know the size of this market. Profitability: Simply put, there would be no point in wasting marketing budget on a market segment that is insufficiently large, or has negligible spending power. Accessibility; when demarcating a market segment, Segments should be accessible in terms of distribution and visibility. Diversity; differences between market segments should be clearly defined, so that the campaigns, the products and the marketing tools applied to them can be implemented without overlap. Action ability: The market segment must have practical value – its characteristics must provide supporting data for a marketing position or sales approach, and this, in turn, must have outcomes that are easily quantified, ideally in relation to the existing measurements of the market segment as defined by initial market research (Steenkamp and TerHofstede 2002). There are four generic targeted marketing strategies: a) undifferentiated marketing, which is not addressed to a specific segment of the market. This strategy does not use targeting and works only for products or services that most consumers consider to be commodities; b) differentiated marketing, it targets more than one segment - applying different blend marketing for each segment (Goel et al. 2010). It achieves a strong competitive position due to a better response to the needs of consumers and the benefits of the diversified strategy exceed the extra cost; c) focused marketing, is the market on which a specific product is focused. The market niche defines as the product features aimed at satisfying specific market needs, as well as the price range, the production quality and the demographics that are intended to impact and d) personalized marketing, is a marketing strategy by which companies