It is very difficult to satisfy all the customers in market as they have different requirements and preferences. Market segmentation process can help the companies in identifying and satisfying the different customer groups. In mass marketing, same strategies and marketing mix can be applied to all the customers where as in target marketing the strategies can be made based on different categories of customers. Thus, targeting market can provide effective results to an organization.
Generally, market segmentation can be done on different bases like:
Generally, market segmentation can be done on different bases like:
- Psychological segmentation which is based on values, approaches and behavioral patterns
- Demographic segmentation on the base of age, income, sex, education etc.
- Quality-wise, Use-wise and volume-wise segmentation
Motorola used demographic type to segment the market. The customer groups recognized by Motorola are:
- Business users or Professionals - Today every organization is using phones for executing and communicating the important tasks quickly. So this segment can generate huge income to Motorola organization.
- Fashion seekers - People who always keep updating with latest trends comes under this segment (Mostly age between 20-40).
- Technology interests - Customers who always shows interest on the latest technologies and new features belongs to this segment (Mostly highly educated and age between 20-45).
- Social life lovers - Customers who wants to make new friends and communicate with their family comes under this segment.
- Retaining more number of customers in the market
- Meeting the customer requirement with more effectiveness as Motorola announced different offers for different segment of customers.
- More profits for the company.
- Sustaining in the market for a long time by holding its competitive position.
- Made various adjustments to the product by recognizing market changes
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