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Mod 2(b) marketing

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  Amity Business School  Amity Business SchoolSunetra SahaMBA Sem I Segmentation, Targeting and Positioning 1  Amity Business School Segmentation ã  Market segmentation is the first step in applyingthe marketing strategy. ã  Segmentation means dividing the market intosimilar sub-markets by understanding the needsand expectations of customers. ã  Companies follow different marketing programsfor different segments to maintain betterrelationship with customers. 2  Amity Business School Definition Market segmentation is the process of dividing a potentialmarket into distinct sub markets of consumers withcommon needs and characteristics.For example, Cadbury India functions in three differentmarkets namely, malted foods, cocoa powder and drinkingchocolates and chocolates and sugar confectionary. 3 Concept of Market Segmentation  Amity Business School Benefits of Market Segmentation The benefits of market segmentation are 1. Understanding the needs of Consumers2. To adopt better positioning strategies.3. Proper allocation of marketing budget.4. Helps in preparing a better competitive strategy.5. Provides guidelines in preparing media plan of the company.6. Different offerings in different segments enhance the sales.7. Customer gets more customized product.8. Helps Company to identify niches.9. Provides opportunities to expand market10. Encourages innovations 4

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Sep 22, 2019
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