Market Segmentation

Executive Summary: What conditions do you feel must be satisfied in order that market segmentation is effective? State the advantages and limitations of market segmentation with particular reference to consumer goods. Compare and contrast your findings with proposed theories and justify your conclusions. Marketers recognized long ago that products and services couldn't be "all things to all people." Buyers have different taste, interest, goals, lifestyles, and so on. Among other things, the emergence of the …

…since the firms will be benefit in terms of a better competitive position for its products, resulting in greater sales and profitability. On the other hand, customer will also have benefit from it. This is because a customer will get a greater satisfaction from the goods and services that they purchased. This is a particularly important point as the whole rationale of the marketing concept is increased business effectiveness through the provision of consumer satisfaction.