Question

Name other segmentation dimensions that could be used for the company. ( Of Berkshire Hathaway)

Answer 1

Answer)After using the popular segmentation which is distributing the large varying customer market into minor factions with similar aspects, Berkshire Hathaway should wisely select the target segment whose demands and goals match the company’s resources and facilities.
The pinpointing can be done by assessing the commercial attractiveness and growth capacity of individuality segments. BH can go for one or more than one segments’ being sure of on the aspects and the company's resources, capabilities and development missions. After doing this company needs to evaluate the commercial elegance and growth capacity of each component and it can be evaluated by using the following ways:-

1st one is whether Identified components have a reasonable size

The 2nd one is their substantial distinctions.

3rd is calculated profits should surpass the extra marketing expenses.

After segmenting the customer market and choosing the right target market, the next step Berkshire Hathaway should take to set a detailed positioning announcement that could create a positive image of the offered product in the consumers' intellect. It can be done by following steps to formulate a powerful positioning strategy:
It can prepare a list of questions to assess the positioning

1st one is by asking What your brand stands for? What is the principal value which it's stands?

2nd one is by asking What are the desires and wishes of your target market?

3rd one is by asking How your brand satisfies those wants?

4th is one by asking How distinct is your offering from opponents?

Answers to the above questions will generate sufficient information to formulate a positioning statement.

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