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- W4243336700 abstract "This chapter shows how markets are defined and segmented. Market segmentation is fundamental to the matching process. In order to understand market segmentation, it is first necessary to appreciate the difference between customers and consumers, the meaning of market share and the phenomenon known as the Pareto effect. Successful segmentation is based on a detailed understanding of decision makers and their requirements. To summarize, correct market definition is crucial for the purpose of: share measurement, growth measurement, the specification of target customers, the recognition of relevant competitors, and the formulation of marketing objectives and strategies. This brings us to another useful and fascinating observation about markets. The chapter reviews the steps required to complete the stages in segmentation and presents in a format for conducting a segmentation project using internal resources. It concludes with case histories to illustrate how superior profitability results from successful market segmentation." @default.
- W4243336700 created "2022-05-12" @default.
- W4243336700 date "2016-09-22" @default.
- W4243336700 modified "2023-09-25" @default.
- W4243336700 title "The Customer and Market Audit Part 1: Understanding Markets and Market Segmentation" @default.
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- W4243336700 doi "https://doi.org/10.1002/9781119309895.ch3" @default.
- W4243336700 hasPublicationYear "2016" @default.
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