Abstract

Market segmentation is a technique used to aim markets on where a product wants to be introduced; acknowledge their various behaviors, needs and wants; steps that need to be taken into account in order for the segmentation to be effective. In the same way, the markets that are work on entail organizations, institutions etc; as well as any individual in where the aspects that are used differ for the reason that if the markets are organizations the aspects that take place are the economic sector, demography and many others which are totally different from the individuals because on that case the types of variables that are look upon are Geography, Behavioral, Demography and lastly Psychographic. Similarly a typical mistake that is made on the markets that I recently mention is that it’s believed that the opinions of the various customers don´t matter at all but that as a cause of a terrible segmentation the losses obtained with the products that want to be launched to market place turns out to be a gigantic mistake. Alternatively, if the process of segmenting the various markets is development well is probably that when the products come out it will show no problem to their customers because the needs and wants were taking into account.  

Keywords

Target Market, Customer Profile, Segmenting Variables, Types of Markets.

Hypothesis

¿ What is the main criteria required to determine the segmentation of any market?

Introduction

If we were to see how in Today´s world markets behave, we will find many drawbacks for the reason that not many of them run the necessary investigations, studies that could let them understand best their customers. That is why throughout this document what you will find is the different types of variables used to segment markets aim at organizations as well as the one´s seek to people. Conversely, another aspect that will caught your attention it’s that if the whole segmentation process is done perfectly you may be avaible to spot the customer write away meaning that the description of the perfect customer has be done so well to the point that if you see any person pass by you´ll know if it’s the appropriate one for your product. On where you will as a result obtained the target market.

Types of Markets

To begin with, thanks to many studies and investigations that troughout time had been develop it has been found, that of the many markets that exits nowadays to segment, only few of them are really relevant for the reason that they are the ones that are the most used by the society in where we find the industrial markets, consumer and lastly  social markets.

Social Markets

One aspect that lets us know which market is which is by trying to understand the focus of the market on where by all of this I mean that, on what has to do for the social markets its is know that they “aim to make social changes positively however the social-environmental cost benefit is seldom a consideration. It is suggested that many changes are ‘unsustainable’ in their current format. Social marketers will need to become involved in the tradeoffs between material wellbeing and sustainability of the environment.”  (Brennan & Binney, 2008). In the same way, thanks by the investigations done by Andressen on the year of 1995 and Herrains & Reid on the 2002 they found that “Social marketing is much more than simply educating and persuading; ideally it not only involves a behavioral change in the target group but also requires that this altered behavior be sustained (Andreasen, 1995; Herremans & Reid, 2002).” (Brennan & Binney, 2008).

Industrial Markets

Alternatively, when entering to discussed the industrial markets it must be known first that “Industrial Marketing is also referred to as business to ‘Business Marketing`, or ‘business marketing`, or ‘organizational marketing`” (Havaldar, 2006).Likewise, after having identified the different various ways that this type of market is known by, it was found that this approach based its activities on “the marketing of products and services to business organizations. Business (or industrial) organizations that include manufacturing companies, government undertakings, private sector organizations, educational institutions, hospitals, distributors and dealers”.(Havaldar, 2006) . 

Furthermore, in order to distinguish this market among others like the consumer one, it is known that for example industrial markets are more focus on aspects like the environmental, all because this approach its aim to companies and many other institutions that on where as I have mention throughout this document make the industrial market be seeing as to have not many customers; as well as to only possess precise delivery channels.

Consumer Markets

First of all in order to continue with the comparison that began to be done with the industrial Markets it is known, that for what has to do with the consumer markets this are described of being “the marketing of products and services to individuals, families and households. The consumers buy products and services for their own consumption”  (Havaldar, 2006). In where as another matter of fact, for them, if by any reason, there was the need to transform the marketing tactic that they have develop earlier they´ll develop all of the changes by their marketing division through aspects like sales promotion, advertising and lastly packaging.