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Marketing91 Week 2 Paper

519 Words3 Pages

Week 2

This week the class discussed segmentation. Marketing segmentation is on the rise and is changing. This allows for communication with customers and explains how companies can deal with different types of personalities of customers (JOURNAL OF MARKETING MANAGEMENT, 2009). Market segmentation is an essential marketing strategy. Its goal is to identify and delineate market segments or “sets of buyers” which would then become targets for the company's marketing plans. The advantage to marketing management is that this method divides total requirement into relatively homogeneous segments, which are renowned by some mutual features. These characteristics are significant in describing and in forecasting the reaction of clients, in a known segment, to marketing incentives (Taylor & Francis, 2017). …show more content…

Thus consumer decision-making is disturbed by his behavior and that is exactly how the behavioral segments are intended (Marketing91.com, 2017).

There are two ways to grow a business. First is to obtain new customers and second is to retain your existing customers. The more loyal your customer is to you, the more your customer base will increase. That’s one more kind of behavior which marketers target. The strategies for brand loyal customers are very different from that used for acquiring new customers (Marketing91.com, 2017).
The greatest example of behavioral segmentation by loyalty is seen in the hospitality segment where hotels, restaurants, airlines, and others that give their best service to deliver the most outstanding experience thinkable so that they can preserve their customer. Service is a chief differentiator in hospitality district. The hospitality district is the one with the finest loyalty programs that exists in society today. Therefore, the loyalty of the customer can also be expended for behavioral segmentation (Marketing91.com,

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