Question

Discuss key decisions that the marketing manager of a mid-market rucksack company will have to make with regard to deciding on its market segment. Assess how the choice of the market segment will impact the price, product, and distribution channels used.

Answer 1

ANSWER

Marketing segmentation can be defined as the parameters of the organization that are helpful in attracting target market. In the segmentation organization develop particular set of marketing objectives that help in attracting customers towards the product and services of the organization. There are various key decisions that the marketing manager of a mid-market rucksack company will take to decide its market segment. For example product price, product features, type of promotional tool etc. All these decisions are very important for the organization in the development of the strategies of the organization. Market segmentation should be done in accordance with the price, product, and distribution channels of the product and services. For example we can say that organization develop segmentation plan as per the requirements of the target market. All the factors that can affect target market should be included in the segmentation. Price comes under the economic segmentation of the target market in which organization segment those customers those have the ability to purchase the product and services of the organization. Segmentation is highly affect by the purchasing power of the customers. Promotional tools and advertisement also important aspect of the segmentation. Organization develop segmentation plan of its product and services as per the promotional tools used in the defined target market. So we can say that for the marketing of any product it is very important for the organization to follow effective segmentation so it can help the organization in accomplishment of the mission and vision of the company.