Market Segmentation and Targeting

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Running head: Market segmentation and targeting MKTG 4460-01, Student Name,
Student Number,
Market segmentation and targeting
University
Word count

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Running head: Market segmentation and targeting MKTG 4460-01, Student Name,
Student Number,
Table of Contents
Introduction......................................................................................................................................2
Definition.........................................................................................................................................2
Principle of market segmentation....................................................................................................3
Example...........................................................................................................................................3
Objectives of market segmentation and targeting...........................................................................3
Disadvantages of market segmentation...........................................................................................4
Advantages of market segmentation................................................................................................4
Conclusion.......................................................................................................................................4
References........................................................................................................................................5

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Running head: Market segmentation and targeting MKTG 4460-01, Student Name,
Student Number,
Introduction
This paper presents a market segmentation concept to have deeper insight over the topic. The
market segmentation is necessary for better organizational branding and brand positioning. The
market segmentation helps target the customers in a better way according to the unique
requirements of each group of customers (Ramaswamy & Ozcan, 2016). The paper gives an
example of a company named Gucci which sells fashionable products made of leather goods to a
wide segment of the population. The company sells clothes, handbags, footwear, and many more
leather-made goods by catering to the needs of diverse people belonging to different countries.
The company has its stores in advanced countries of world where it sells its products on retail
basis whereas in other corners of the world, the company operates on whole sale basis. The
company sells its products through online platforms as well as retail stores as per segmentation
of market.
Definition
The market segmentation entails categorizing the market in different groups based on unique
characteristics like the place, economic well-being, demography, gender, etc. This leads to
targeting of customers based on their requirements, thus better reaching the intended population.
The company will be able to access the market segments according to their unique needs leading
to relaying og message to intended or targeted population effectively. The proportional