Segmenting Markets

A company that practises segment marketing recognizes that buyers differ in their needs, perceptions and buying behaviours. The company tries to isolate broad segments that make up a market and adapts its offers to match more closely the needs of one or more segments. Thus, BMW has designed specifie models for different income and age groups. In fact, it sells models for segments with varied combinations of age and income: for instance, the short wheelbase 3 for young urban drivers. Hilton markets to a variety of segments - business travellers, families and others - with packages adapted to their varying needs.

Segment marketing offers several benefits over mass marketing. The company can market more efficiently, targeting its products or services, channels and communications programmes towards only consumers that it can serve best. Thfc company can also market mure effectively by fine-tuning its products, prices and programmes to the needs of carefully defined segments. And the company may face fewer competitors if tower competitors are focusing on this market segment.

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