Market Segmentation
Product Differentiation and Market Segmentation as Alternative Marketing Strategies Author(s): Wendell R. Smith Source: Journal of Marketing, Vol. 21, No. 1 (Jul., 1956), pp. 3-8 Published by: American Marketing Association Stable URL: http://www.jstor.org/stable/1247695 . Accessed: 24/04/2013 13:20
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PRODUCT DIFFERENTIATION AND MARKET SEGMENTATION AS ALTERNATIVE MARKETING STRATEGIES
WENDELL R. SMITH A lderson & Sessions the decade of the 1930's, the duces a diversity in supply that is inconwork of Robinson and Chamberlin sistent with the assumptions of earlier resulted in a revitalization of economic theory. The reasons for the presence of ditheory. While classical and neoclassical versity in specific markets are many and theory provided a useful framework for include the following: economic analysis, the theories of perfect 1. Variationsin the production equipment competition and pure monopoly had beand methods or processesused by differcome inadequate as explanations of the ent manufacturers products designed of contemporary business scene. The theory for the same or similar uses. of perfect competition assumes homoge- 2. Specialized or superior resources enneity among the components of
Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp
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JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org.
.
American Marketing Association is collaborating with JSTOR to digitize, preserve and extend access to Journal of Marketing.
http://www.jstor.org
This content downloaded from 139.184.30.136 on Wed, 24 Apr 2013 13:20:19 PM All use subject to JSTOR Terms and Conditions
PRODUCT DIFFERENTIATION AND MARKET SEGMENTATION AS ALTERNATIVE MARKETING STRATEGIES
WENDELL R. SMITH A lderson & Sessions the decade of the 1930's, the duces a diversity in supply that is inconwork of Robinson and Chamberlin sistent with the assumptions of earlier resulted in a revitalization of economic theory. The reasons for the presence of ditheory. While classical and neoclassical versity in specific markets are many and theory provided a useful framework for include the following: economic analysis, the theories of perfect 1. Variationsin the production equipment competition and pure monopoly had beand methods or processesused by differcome inadequate as explanations of the ent manufacturers products designed of contemporary business scene. The theory for the same or similar uses. of perfect competition assumes homoge- 2. Specialized or superior resources enneity among the components of