Marketing Segmentation article review
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The article “Market Segmentation” by Jerry W. Thomas addresses the various aspects associated with market segmentation. Marketing segmentation is a concept that is used to subdivide a market based on a given similarity, commonality, or kinship. This aspect is aimed at the concentration of marketing energy to enable the product to be channeled to the specific market to gain a competitive advantage within the segment. The article addressed the various types of market segments and the basis in which the segmentation is focused. This process includes the factors used in segmentation, such as the geographic location, distribution channel, marketing media, price, demographic aspects, time, and the individuals’ lifestyle targeted for the specific products.
Also, the article examines the procedure undertaken while undertaking a marketing segmentation. This aspect involves the data collection methods, the development of questionnaires, and how the data collected in the questionnaires is used to develop the strategy used in the process of selecting a segmentation process for a specific market. In this case, the procedure used to undertake a marketing segmentation. The various shortcomings associated with the process of marketing segmentation are identified and how they influence the segmentation decisions.
Through the article, I have learned the various aspects that affect the effectiveness of marketing segmentation. Mistakes such as segmenting a segment, overlooking the universals, developing many segments, and targeting too many segments are considered to affect the effectiveness of the segmentation significantly. Also, confusing the results, overlooking the basics, and focusing people instead of dollars are other aspects that influence the process. The article can help understand how market segmentation works and the various opportunities associated with the different marketing segmentations.
Reference
Thomas, J. W. (2007). Market segmentation. Decision Analyst, Arlington, Texas, USA.