i need a reply for discussion below: Week 3, Discussion 2: Market Segmentation T

Question

i need a reply for discussion below:

Week 3, Discussion 2: Market Segmentation

There are different levels of market segmentation for companies that can receive positive results on their products. These clusters can define the strategy of the company products.

First, mass marketing is defined as the “whole pie” of a large section of the people’s product. Lynch (2012, 6.2) states “mass marketing is also called undifferentiated marketing.” Personal computers, for example, are an important item in the households for generations Y and the baby boomers. Computer manufacturers like Heward Packard and Dell are becoming market target for the generation Y. Younger adults are using laptop computers for home and college purposes. Also, the baby boomers are older, are taking their time to invest in a laptop computer for easy access. Most of all, they are not mobile as they use to be. They want to sit down at home to do their research.

Second, segment marketing is a combination of strategies within a company that a product is surveyed. For the generations Y and baby boomers, Dell and Heward Packard, are creating markets for their needs. I witnessed a situation at Wal-Mart where a person who is from the Baby Boomer generation wanted to purchase a laptop computer. The salesman told the person that Heward Packard is the best laptop computer to purchase. A few minutes later, the person bought laptop computer for needs of satisfaction.

Third, niche marketing is defined as a creative way of marketing plans for the product. One thing I noticed about marketing personal computers is the focus of small or large groups of needs. Dell and Heward Packard narrowed down the groups of people’s need. Dell may create a small market for baby boomers for selected personal computers. An individual may want a home computer for the family. On the other hand, Heward Packard is focusing on the generation Y. Most of the young people are using laptop computers for personal use and college needs. All in all, this has become successful for the computer manufacturers and will continue for the future.

Finally, customized marketing is defined as a company promoting a product or service with high quality by the consumer’s choice. As a consumer, I was looking for a top brand laptop computer for my online class and personal use. The salesman at Wal-Mart offered me a computer that was suited for me. In fact, the retail store had a selection of top laptop computers in the electronic department. I choose the quality of Heward Packard and was satisfied with my choice. In other words, customized marketing is micromarketing with a purpose of quality, not quantity.

In conclusion, market segmentation has different levels for promoting a selective product or service for the consumer. The choice can be very positive for Dell and Heward Packard personal computers which can change the landscape of the company’s marketing schemes.

Reference

Finch, J. (2012). Managerial marketing. San Diego, CA: Bridgepoint Education, Inc

Explanation / Answer

Discussion is about Market segmentation. and conclusion states that market segmentation has different levels for promoting a selective product (laptop in the example) or service for the consumer. The market for laptops is segmented in terms of Y generations and baby boomers. Customers belonging to different segments have different needs and so the product needs to be designed differently to cater to their specific needs. Similarly different segments of the market require different approaches to close the sales.

Mass marketing, mixed or combined strategies rather than one strategy marketing, creative marketing, and customised or micro-marketing strategy are the various types of marketing schemes that a company may consider while dealing with subject of market segmentation.

As per my understanding the key word for discussion is Market Segmentation (MS) that stands for dividing the whole targeted markets into different groups of customers/ consumers that have or perceived to have common desires, requirements, needs, interests and or factors dictating purchase of a specific product and service. MS also include designing and implementing marketing strategies/ schemes to target the different segments of the market.

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