Segmentation And Marketing : Segmentation Essay

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Question 1 Segmentation means to divide the marketplace into parts or segments which are definable, accessible, actionable and profitable and have a growth potential. In other word it is a technique used to enable a business to better target its products to the right customers by identifying the specific needs and wants of customer groups and then using those insights into providing products and services which meet customer needs. Segmentation is a necessary first step because it is impossible to target the entire market because of time, cost and effort restrictions as different people have different needs and choices but if we do segmentation then it allows the seller to closely tailor the products to the needs, desires, uses and paying ability of customers. It also allows sellers to concentrate on their resources, money, time and effort on a profit market which will grow in numbers, usage and value. The benefits Ateco Great Wall will get from Segmentations can be as follows: • Segmentation can help Ateco Great Wall to increase the focus of a firm on market segments as if they will have better focus they will get good returns. As once you are focus it helps to increases the competitiveness in that market segmentation by focusing on specific targets. • Ateco Great Wall will benefit if they segment through any types of segmentation such as geographic segmentation which will help in market expansion. As if they have market strategy on the basis of geography then once they

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