MARKETTING Chapter 8 Tapping into Global Markets Chapter 9

MARKETTING

Chapter 8 - Tapping into Global Markets

Chapter 9 - Identifying Market Segments and Targets
Chapter 10 - Crafting the Brand Positioning

Assignment 5

Class Participation – Discussion Forum – Journal Article

The post should be a direct response to the topic for the week and include brief commentary on the posts of other classmates. Your post must be substantial and thoughtful and be a minimum of 250 words. It is recommended that you write your post in Word to track your word count and then copy and paste it into the discussion forum space in the course syllabus.

find an article from a professional journal dated within the past 2 years that has significance to this course. Include the following:

title, author, date, and source

a brief summary

discuss the strengths and limitations

your interpretation of the findings or conclusions

Your post must be substantial and thoughtful and be a minimum of 250 words.

title, author, date, and source

a brief summary

discuss the strengths and limitations

your interpretation of the findings or conclusions

Solution

Chapter 9- Identifying market segments and targets

Marketing is an important aspect of any business. It includes many marketing techniques to make the ultimate customer happy and to create better profits to organization.

Market segmentation: The market segmentation is the process of dividing the market according to the demographic features of customers, i.e., according to age, sex, taste and preferences of customers etc.,.The segment generally includes customers who respond in similar way or similar needs or locations.

Importance of market segmentation:

1. By targeting the customers into segments it becomes easy for marketers to find to find the similar consumers preference rather than focussing individually each potential customer that saves time, value and money of the customer.

2.The promotional activitirs or marketing campingns becomes easy through the market segmentation process.

3. It also helps to know the total available number of potential customers for our product or service and also to target the potential customers.

Article:

Citation: Gökcay Balci, Ismail Bilge Cetin, (2017) \"Market segmentation in container shipping services: a qualitative study\", Management Research Review, Vol. 40 Issue: 10, pp.1100-1116.

Summary : Market segmentation is an effective solution to develop customized marketing programs for each segment Hence, the purpose of this study is to develop a segmentation framework that can help container lines to profile each customer more efficiently considering their needs, strategic importance and demographics.This study has adopted an exploratory approach. Semi-structured interviews were conducted with managers of container lines.

Findings: Segmentation bases are the type of customer, number of customers, loyalty, seasonality. Market segmentation can be helpful in developing effective customized marketing offering, including effective price discrimination and customized marketing communications.