Question

How can marketing manager segment a market?

Answer 1

The marketing manager segment the market based upon the certain strategies.. but before that segmentation certain limitations of the market is observed like- whether the market is large enough to make profit, possible to measure, doesn't vanish after certain time, internally homogeneous etc..

Now the marketing manager used strategies like concentration strategy where company focus it's marketing efforts on only one market segment.. Another Multi segment strategy company focus it's marketing efforts on two or more distinct market segments..

Also there are certain segmenting methods used by managers..such us..

Demographic- divide the market onto certain small groups based on different variables such as their age, income, gender, education, family size, religion etc..

Geographic- divise the market segments based on nations, location, state, cities, zip code etc..

Psychographic- here the division is based on the customers lifestyle, personality, food habits, social class etc..

Behavioral- Consumers are divided into groups based on their knowledge of, attitude toward, use of, or response to a product.

Also a marketing manager can segment a market based on other parameters like the occasion, usage rate, benefits...

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