Mercer Management Consulting: Segmentation Of Buyers

APPENDIX

CHAPTER

PARTICULAR

PAGE NO.

1.

INTRODUCTION

2

2.

MAIN CONTENT

2-3

3.

CONCLUSION

3

4.

REFERENCES

3-4

Page Break

INTRODUCTION

Segmentation: Market consist of buyers and buyers differ in one or more than one ways. They may differ in their wants, needs, location, buying attitude and buying practices. Each buyer is potentially a separate market. Ideally, then a seller might design a separate marketing program for each buyer.

Targeting: Targeting the market is a phase which comes simultaneously after segmentation of market. Once the market is divided, the organization becomes aware of the audience they 've to deal with in respect to their age, gender, occupation, location, etc. And thus, they can plan ahead of the marketing activities that are to be implemented and executed which is also known as Positioning.

(1)Gordon Wyner, (2002) vice president of Mercer Management Consulting, writes that effective segmentation enables companies to allocate investment resources towards targeted customers that are most likely to be attracted to offers. Success is measured in terms of how well the organization acquires and retains profitable customers.

MAIN CONTENT

Technically, the word "segment" means "divide". Similarly, in the marketing medium, the word segmentation means division of the target-market. Segmentation is a means of focusing attention onto the needs and wants of the different groups