• How Did The Technology Contribute To The Efficiency And Effectiveness Of A Transaction?

Market segmentation is specific sections of the market that an organisation is aiming at. In order for an organisation to engage its market segmentation the organisation has to match its products to the customers wants and needs to appeal to the customer to buy the good or service. Market segmentation allows an organisation to have a competitive edge and it is a key factor for the organisation profitability and survival. Company use target marketing which is when a business aims all of its marketing effort to a certain group of customers which is affective as these are the group that spends the most. There are many ways to segment the market to create that certain group such as demographics, psychographic, geographically and lifestyle. Demographics is consists of dividing the market into groups based on variables such as age, income, occupation, religion, race and nationality. Psychographic segmentation is based on social class and lifestyle. Lifestyle is based on knowledge, attitude, their uses and segmentation. Geographic segmentation is the segmentation which divides the market but location, regions, countries and cities. Asos as an organisation is aimed at people of the ages of 15-34 year olds who are very fashion forward and who enjoy the culture of online shopping. In geographical segments Asos has created their website differently for 9

• Market Segmenting- is known for targeting potential customers that are the best matches for services and products. This type of tool is important to businesses because it involves finding the different needs that exist with consumers. For example, some consumers prefer a fast paced environment while others are concerned with the space.

Market Segmentation – How & Why As well as the physical aspect of our store changing we have to look at the market differently. Where it was once possible to take a pile it high sell it cheap approach, to achieve broad appeal to the population we need to cater to the needs of the population. This is achieved by breaking the population into groups and then releasing products and services that meet the needs of these groups. This is known as target marketing. Although we all appreciate the theoretical economies of scale given by mass marketing a single product, there are few products that appeal to everyone.

Similarly (Tynan and Drayton, 1987) states that the aim of market segmentation is to identify market segments, or individual sets of customers, which would form targets for the company’s future marketing plans. The elements used to separate customers into segments can include: age, gender, occupation, income, life stage, amongst others.

Because understanding and meeting the individual needs of your target audience can be a difficult endeavor, it is recommended, instead, to get to know smaller groups of customers. Segmentation is the process of grouping customers together according to similar demographics and psychographic

According to Philip Kotler, market segmentation is the process of dividing a market into meaningful groups that are relatively similar and identifiable.

Market segmentation is the process of dividing the market into various segments which maybe on the basis of demographics, psychographics, behavioural or geographic factors (Philip Kotler, 2012). For instance, Britvic may break down its market into groups based on age such as children (those who are under 18) and older consumers (those who are over 50). People in one segment share similar characteristics, attitudes. In this example, the ones in the children segment may prefer flavours like strawberry, may like nice, attractive packaging than other segments like older consumers.

Market segmentation is the technique used to enable a business to better target it products at the right customers. It is about identifying the specific needs and wants of customer groups and then using those insights into providing products and services which meet customer needs.

Market segmentation is a strategy that involves breaking down a business’s current target market into smaller subsets in order to establish a more defined set of market categories. It is important to first look at the tools available to assist with segmenting the market prior to beginning your segmentation. These tools include the following:

Market segmentation is the division of the total market into relatively homogeneous, but distinct segments. It is used to identify target audiences and strengthen a campaign 's effectiveness in reaching selected segments. Segments usually respond to campaign elements differently and different techniques are required to reach and motivate various segments.

Segmentation is essentially the identification of subsets of buyers within a market who share similar needs and who demonstrate similar buyer behavior. The world is made up from billions of buyers with their own sets of needs and behavior. Segmentation aims to match groups of purchasers with the same set of needs and buyer behavior. Such a group is known as a 'segment'. Think of you r market as an orange, with a series of connected but distinctive segments, each with their own profile.

The market segmentation is where the market has been divided up into groups of consumers who have similar needs; it is when the market is broken down into sub-groups which share the similar characteristics of different levels. It is the divisions of a particular product which is divided into different segments of different levels as the Gender, (Ex: Male and female has 2 sections of similar production of different innovation). It consists of individuals and groups with one or more features that cause them to have relatively similar product needs.

Market segmentation is dividing a market into direct groups of consumers who might separate products requirements or marketing mixes, the process of classifying customers into groups with different need and requirement. (Kotler et al 2010, p.264). In this proposal, the market segmentation will be discussed from three aspects, which are demographic, behaviours and psychographic.

Market segmentation is a marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will respond similarly to a marketing action. Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another. (Definition of Market Segmentation). Below are some of the criteria can be used to identify different market segments:

Segmentation is a process of dividing the market into small portions where each portion shares the similar kinds of needs, characteristics and buying behavior.