Customers are the important and crucial part for any business activities, which plays a vital role in successfully running for any company. The all exercise taken by the company is focused to how to satisfied its customer as it is only way by which it can survive in the market with its brands and products. To fulfill the target of selecting its customers, companies identify its customer and then target them for its products and brands. Segmentation is the marketing tools, which helps the organization in fulfilling its desire to identify the actual customer.
Marketing segmentation is the process by which company targets difference categories of customers who shows the complete value of fixed products or brands and services but differently from one another. In other words it is the process, which classify the existence customers into various groups, or sub groups, which interacts to the various range of products with same interests. It helps the company in identifying the customers need and demands with the products or services and what are their expectations with the brands. Company can change and strengthen its strategy after identifying the taste and change of customers in the market.
As for a particular company its customers belongs different categories. They come from the sex, different educational backgrounds and various economical backgrounds. They have different economic backgrounds also but they have common interests for the company point of view, as they are the customers for the particular products.
There are four bases on which Marketing segmentation concludes:
On the other hands it is not possible for a particular company that it manufacture products for all class of people because such exercise will prove a costly move for the company. Thus company plan to target selected group of people for its brands and target the selected customers. First of all company identify the groups of customer and then target them for its products.
Marketing segmentation helps the company in identifying the customer of its interests. Company finds out such a customer from market on various parameters. For example if a particular company launch its products for ladies only then men are not so important for it. Also if the manufactured brand belongs to particular age group ladies then company will focus its promotional and advertisement program on the same age group women. In the same way customers economic and educational background is of significant important as it plays major role for its marketing.
After identifying the customer of its interests in the market, company targets the particular customer, which are known as target customer for the company. Now company restricts its promotional and sale advertisements move for the particular target customer.