The Market Segmentation

The Market Segmentation

In essence the company will not be able to serve all customers, especially coupled with the presence of competitors who have a better position in certain markets. Therefore, there is a tendency for companies to choose the most effective or profitable market segment to enter.

There are times when companies have a mindset in 3 stages namely

1. Mass Marketing

At this stage of mass marketing the company produces one type of product and distributes it massively on the grounds of cost of goods and low selling prices so that it has a large potential market

2. Product Marketing

At the marketing stage of these various products, the company produces two or more types of products, each of which differs in fashion, size, quality and so on, with a reason to attract different market segments

3. Target Marketing

At this target marketing stage, the market begins to be clearly separated into many market segments, then selects one or more production segments and develops them with marketing assistance specifically designed for each segment on the grounds to meet consumer tastes

Marketing objectives include 3 steps, viz

1. Market Segmentation is an attempt to separate the market in groups of buyers according to certain types of products and with the help of certain markets

2. Market targeting is the activity of assessing and selecting one or more market segments to be entered

3. Product Positioning, namely the activity of formulating product placement in competition and placing detailed marketing prey

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