In order to satisfy the needs of customers, marketers adopt the concept of market segmentation where markets are divided into homogeneous subsets with similar characteristics to service them efficiently. THIMER AMOVI a. Discuss four (4) bases of market segmentation for a product of your choice and its implications for marketing strategy
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- Marketing segmentation has been described both as a demand analysis and as a business strategy. What is the difference between these uses of the term market segmentation? When segmenting a market, describe the reason why marketers segment markets? What is the difference between market segmentation strategies and product differentiation strategies in marketing? What is required to effectively use a market segmentation strategy?Do the market segmentation for SUCRAL (a substitute of sugar for diabetic patients), what different basis you can use to segment the market? Develop a Marketing Mix using Product, Price, Place and Promotion for SUCRALMarket segmentation is a crucial component of any marketing strategy, as it allows businesses to divide aheterogeneous market into smaller, more manageable segments. Discuss the FIVE (5) broad types of market segmentation strategies and explain how each type can be applied to identify and target potentialcustomers effectively. Provide real-world examples to illustrate your points.
- You are opening a bookstore, and now working on the marketing plan. Select two target markets for your business. Please explain the criteria you considered in segmentation. Present an appropriate marketing mix for each target market. Provide explanations on your decisions.What is Marketing? How does marketing add value to the product? What are the approaches for market segmentation? Explain with a local example for each segmentation approach?Discuss Describe the process of segmenting a target market and explain why it is crucial for effective marketing planning.