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Market Segmentation

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Market Segmentation
The Reference for Business Encyclopedia defines market segmentation as the science of dividing an overall market into key customer subsets, or segments, whose members share similar characteristics and needs. I feel that www.yankelovich.com is a very good example of market segmentation. You can tell as soon as you enter their website that some marketing research has been done in or to provides this company with a clear direction on which group or groups represent the best their target audience. This site is very easy to navigate and is the layout is easy to understand. If a company is showing good use of market segmentation on their website it will l pay for itself many times over. If it doesn’t, then it will become a quickly discarded, there will be no traffic to the site and will eventually shut down, often times, along with the brick and mortar buildings as well. Marketing is all about satisfying the needs and wants of consumers. Consumers have the money and are willing to spend to satisfy their needs by buying goods and services, a lot on times on impulse. If it feels and looks good at the moment consumers will most often buy it. This website does a good job of drawing in the consumer to each market. Marketing strategies are important for a business to satisfy consumer needs. The target market comprises of groups of people or organizations for whom the business intends to implement its marketing strategies. This website does a very good job of dividing their target

market into groups of buyers with individual needs, characteristics or behaviors; this is exactly what market segmentation is.

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