Does market segmentation still have significant value in the strategic planning process in the 21st century?...
Does market segmentation still have significant value in the strategic planning process in the 21st century? If so, why, if not, why not?
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Homework Answers
Answer : Market segmentation is an important criteria for success of an organization. The strategic planning done by the marketer in order to place a product to the customer at right time,right place and right amount.
- Segmentation means dividing the customer into small groups so that it helps marketer to identified there potential and present customer.
- Help marketer to preciously reach the customer in systematic and logical manner.
- Help to gain competitive advantage in the market in order to gain maximum share .
- Helps in dividing the product catagory as per customer age group and target specific product to the customer.
- Help to achieve higher sales as connectivity is higher.
- Accessibility of the product in best suitable manner.
- Better strategic planning of the product.
- Target market in best and better manner.
- Higher growth opportunities available to them.
Therefore, market segmentation is play an utmost important as they provide proper path of making strategic for the successful product.
Source of information are :
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- http\\ blogoxford college of marketing.com
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