Markets consist of customers with similar needs. For example, consider the wide variety of markets that exist to meet the following needs • Eat
As you can imagine, such markets (if they were not further divided) would be very broad. Customers in a market are not the same. For example, within the market to provide meals, customers differ in the: • Benefits they want
• Amount they are able to or willing to pay
• Media (e.g. television, newspapers, radio stations) they see • Quantities they buy
• Time and place that they buy
It therefore makes sense for businesses to segment the overall market and to target specific segments of a market so that they can design and deliver more relevant products and services. Therefore, to stay focused rather than scattering their marketing resources, more marketers are using market segmentation. In this approach, which falls midway between mass marketing and individual marketing, each segments buyer are assumed to be quite similar in wants and needs, yet no two buyers are really alike. Market segmentation is one of two general approaches to marketing; the other is mass-marketing. In the mass-marketing approach, businesses look at the total market as though all of its parts were the same and market accordingly. In the market-segmentation approach, the total market is viewed as being made up of several smaller segments, each different from the other. This approach enables businesses to identify one or more appealing segments to which they can profitably target their products and marketing efforts.
This research will discuss about the market segmentation of the ready mix market in Bahrain. A good place to start is by giving an introduction about one of the ready mix concrete suppliers in Bahrain.
Haji Hassan Ready Mix
When it comes to Bahrain, Haji Hassan Ready mix Division is one of the most famous concrete companies. The Haji Hassan Ready Mix Division (HHRM) was built up from humble beginnings by the much loved and respected figure of the late Haji Hassan. Founded in 1977, Haji Hassan Ready Mix has been a pioneer for using ready mix in the modern building and construction industry in Bahrain having a reputation for quality and service. Under a strong blend of European and local Management, third party quality system certification guarantees compliance with ISO 9000:2008 and controlled by the Central Laboratory. With a fleet of 50 truck mixers and 16 concrete pumps, the company has a capacity to supply in excess of 50,000 cubic meters of concrete per month, thus ensuring an adequate supply for all customer requirements. Nature of the product
Guess what is the most consumed material in the world after water? - Concrete! As of 2006, about 7 cubic kilometers of concrete are made each year—more than one cubic meter for every person on Earth. More than 55,000 miles (89,000 km) of highways in America are paved with this material. Concrete is the most-used man-made product in the world. Concrete is a composite construction material made primarily with aggregate, cement, and water. Concrete is widely used for making architectural structures, foundations, brick/block walls, pavements, bridges/overpasses, motorways/roads, runways, parking structures, dams, pools/reservoirs, pipes, footings for gates, fences and poles and even boats. Concrete’s natural color is gray. Its favored uses are utilitarian. Its very ubiquity Causes it to blend into the background. But ready-mix concrete does have one Remarkable characteristic: other than manufactured ice, perhaps no other manufacturing Industry faces greater transport barriers. The transportation problem arises because ready-mix concrete both has a low value-to-weight ratio and is highly perishable—it absolutely must be discharged from the truck before it hardens. These transportation barriers mean ready-mixed concrete must be produced near its customers. For the same reason,...