Concept of Marketing Segmentation

 Marketing management is an important function that concerns anticipating,planning,pricing,promoting and distributing product or service among customers and increase their living standard.

There are many functions we perform in Marketing management.These are segmentation,targeting,pricing and so on.Every function is important and plays an important role for the success of organization.Among all segmentation is one of the most important function because we micro  analysis of consumers and fulfill their need,want and provide them maxium satisfaction.

Definition of Marketing Segmentation-

The process in which we divide customers according to their feature to fulfill their need,want,desire and give them maximum satisfaction this process is called marketing segmentation.

In other words we can say that the process in which we divide potential customers on the basis of personal,professional,geographical,demographic basis and make strategy to increase their living standard this process is called marketing segmentation.

Nature-

1.It is an internal function.

2.It is a continuous function.

3.It is a wide range function.

4.It is progressive function.

5.It is a basic function of marketing in 21st century.

6.It is consumers oriented function.

7.It is complex and data oriented function.

Importance-

1.It helps to anticipate the changing need,want,desire of consumers.

2.It helps to make innovative policy,programme,rules,regulation of marketing.

3.It increases sales volume of organization.

4.It enhances efficiency of organization.

5.It helps to perform targeting marketing properly.

6.It helps to understand the feature of market by a proper way.

7.It helps to take appropriate decision in marketing concern activities.

8.It helps to expansion of organization.

9.It increases the competitiveness of organization.

10.It helps to achieve objective of organization.

11.It helps to provide maximum satisfaction to customers,