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  • Essay / Marketing Research and Market Segmentation - 2731

    INTROCreating value for both customers and businesses requires marketing research and processes related to market segmentation. To achieve effective and useful market segmentation, there will be a few steps and a few concepts that need to be known. Companies should pay attention to segmenting their products and entering a new market. For this reason, the company takes into account all market segmentation processes, such as targeted marketing, consumer market segmentation, commercial market segmentation, international market segmentation, brand value. relationships with customer value, advantages and disadvantages of segmentation.SEGMENTATION AND CONSUMER SATISFACTIONCustomers are at the center of all marketing processes because marketing focuses on customers.The reality of marketing is to evaluate to provide benefits to the both to customers and marketers. .(Pride, Ferrell, 2008; 3) Satisfying consumer needs and creating value for customers are the most important concepts for marketers in today's world. Similarly, if marketers satisfy customer requirements, existing products create high customer value and effective use of marketing mix so that the product can sell easily. (Armstrong-Kotler, 2011; 33) For customers, it does not matter what segments exist or how companies divide customers into segments. The most important value to customers is the product and service that meets their needs better than any other company. Market segmentation involves dividing the market into analog groups or customer segments and choosing the most appropriate groups or segments that share the same or similar needs. (pride-ferrell,2008;271) Market segmentation is about middle of paper......13) With the Toyota Way sensibility, Toyota always aims for perpetual improvement with Kaizen. Toyota Way on customer satisfaction includes a few concepts. Customer requirements show differences from time to time. With the sensitivity of Toyota Way, they always follow customer needs. Since Toyota is based on the long-term relationship between customers, this situation also continues after the sale of the car. With this idea, Toyota has no last point to present more to its customers. (Liker, 2004) Marketers must create a perfect balance. between local or regional issues for operating companies (Kumar-Nagpal, 2001; 6) Toyota's marketing segmentation overcomes this problem because Toyota operates almost all segments and does not localize all its models in all regions. They manufacture and sell models taking into account the conditions of the geographical area.