4ps and How the Firm Position Their Products for Maximum Competitive Advantage in the Marketplace

| According to the text, market segmentation is defined as identifying groups of consumers based on their common needs.Answer

In this way, both the individual consumer and the business customer have the same basic factors motivating their decision, but with very different reasons for doing so. By looking at the customer analysis, it is apparent how Enterprise has tailored its services to satisfy the needs of the consumers.

Useful where multi consumer type, each with own needs, but not one product to meet all needs

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

Market segmentation: The process of dividing a market into distinct groups of buyers who might require separate production or marketing mixes (Wells, Burnett, & Moriarty, 2006).

When customers seek for a specific product or service, they obviously want the company to be responsible and well organized. A customer wants to be able to trust the company in which the company delivers everything correctly and the way the costumer wants. When all the customer wants and needs are met, the customer will be to determine which company fits best.

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.

In terms of Customer, I as the marketing manager have selected the target market as following firstly The Harried Assistants, second, The High-Tech Managers,

Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first

4P’s of marketing: product, price, place and promotion. It is the foundation of Marketing. However, in today’s world we have a new element which would be a, marketer building relationships with other representatives and their customers. How your relationships develop will be building blocks and become the foundation. Thereafter, the marketer is able to use that information obtained using it to your advantage will a long way. Finally, the uses of social media, Facebook, LinkedIn, Twitter, and eBay are all different methods of marketing.

HOW A PRODUCT OR SERVICE CAN DELIVER VALUE TO CUSTOMERS THROUGH THE 4P’S OF MARKETING

Consumer behaviour is complex and a company has to fit their product more closely and satisfy their customer needs more fully than the