Hi class and prof. Chris
The technique of segment markets and targets of particular groups are a technique aimed to choose a certain class of customers, and it focus on study and find the dimensions of the products that could be played by increasing marketing.
It's important for the company to segmenting the market demands. This means that they need to focus on categorizing certain categories, so that it is possible for each category product to be similar to another one. By doing this technique, the company is selling the same product to match all the needs of the customers.
The other goal is to reach and get the largest possible area of the customers by identifying the category or market sector, which has a purchasing power that leads to increase the value of marketing.
That market segmentation helps in proper planning to pack the right marketing of the product. It also makes us extend our product at the same time to meet the needs of consumers, which is very important in the creation of the product.
For example if the target category is for the people who are older than 70 years or younger than 20 years old, then we have to take into consideration that there is a limited income of the teenage and the elderly.
Market segmentation helps to reduce the risk in determining where, when, how, and who will be marketing the product, service, or brand. It also increases the efficiency of direct marketing through special efforts towards a particular sector in a manner consistent with the characteristics of that part.
Segmenting markets is the simplest and the most important technique for matching supply and demand.
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