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Advantages of Market Segmentation:
(i) The marketer can spot and compare marketing opportunities. He can examine the needs of each segment and determine to what extent the current offering satisfies these needs. Segments which have low level of satisfaction from current offerings represent excellent opportunities for the marketer.
(ii) With the help of knowledge about different segments, the marketer can better allocate the total marketing budget. Differences in customer response to different marketing tools serve as the basis for deciding on the allocation of market funds to different customer groups.
(iii) The marketer can modify his product/service and marketing appeals to suit the target segment.
(iv) Segmentation facilitates setting up of realistic selling targets and priorities.
(v) Management can identify new profitable segments which deserve special attention.
(vi) It is possible to deal with competition more effectively by using resources more effectively.
(vii) Appropriate service packages can be developed for each market segment.
The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics.
It helps us in serving our target audience more effectively.
1- More efficient advertising (competitiveness)
2- New segment with new focus
3- Concentrated distribution
4- Precise branding
5- Sales increase (High profitability)
6- Customer retention
7- Better communication
it increase you focus and when you focus you can come up with new ideas and capture the new trends in this segments
Managed protocol which created to ( provide better services/Opportunity ) grab a specified class consumers.
Explained by experts nicely. Thanks
I go by the given answers, as already explained well.
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