Difining Markets-Defining Moments

Topics: Marketing, 20th century, Consultative selling Pages: 2 (479 words) Published: March 5, 2011
If the mass marketing or undifferentiated marketing has been applied during the beginning of the 20th century, the market segmentation has been applied during the last half of the 20th century. Most of the 20th century, consumer products companies decided to tie up with mass marketing, mass producing, mass distributing, and mass promoting for the same product in the same way to all customers. These companies defined that mass marketing will create the large potential market which leads to lowered costs of production. However, when technology became more applicable, there were more firms entered in the market. The competition between these companies becomes a serious problem. The companies must find the way to differentiate its product. Thus, market segmentation is a solution for this transition. With the development of technologies such as internet, e-mail, social networking, or media, market segmentation allows marketers to satisfy customer’s needs. Consumers in different groups of age, gender, or culture….who have different styles or tastes on certain kind of product would like to have more options rather than one option for a product. They now through internet, social networking, companies websites can search or find the product that they want or need easier and faster. Customers today know more what they want, and they are more specific about when and where they want it. Marketing is almost always a multi-dimensional process in which we are selling to multiple groups and going to many layers to reach our end-users. Also, consumers are more demanding than before, desiring products that suit their taste or their lifestyle. A multi-dimensional marketing application can equip the sense of awareness and personal request to these demanding consumers, bring them to closer step to making a purchase of your product and making them to becoming your loyalty customers. There are many tools or technologies to proceed the multi-dimensional marketing. For example,...
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