Topic > Market Segmentation for Businesses - 1438

INTROCreating value for both customers and businesses requires some market research and some processes related to market segmentation. To carry out an effective and useful market segmentation, there will be some steps and some concepts that need to be known. Companies need to pay attention to segmenting their products and entering a new market. For this reason, the company takes into consideration the whole process of market segmentation such as target marketing, consumer market segmentation, business market segmentation, international market segmentation, brand value customer value relationships, benefits and disadvantages of segmentation. SEGMENTATION AND CONSUMER SATISFACTION Customers are the central point of all marketing processes because marketing focuses on customers. The current issue of marketing is to evaluate to provide benefits to both customers and marketers. .(pride,Ferrell, 2008; 3) Satisfying consumer needs and creating value for customers are the most important notions for marketers in today's world. Likewise, if marketers satisfy customer needs, existing products create high value for the satisfied customer and effective use of the marketing mix so that the product can be sold easily. (Armstrong-Kotler,2011;33) For customers, it does not matter which segments exist or how companies distribute customers across segments. The most important value for customers is the product and service that meets their needs better than any other company. Market segmentation is dividing the market into analogue groups or segments of customers and choosing the most suitable groups or segments that share the same or similar needs.(Pride-Ferrell,2008;271) Segmented market...... middle of paper ......ents.(Global Automobiles and Components,2011;25)Toyota Motor Corporation +. The company sells its products under the Toyota, Lexus, Hino and Daihatsu brands. Vehicles produced by Toyota, Daihatsu and Hino can be classified into two categories: hybrid vehicles and conventional engine vehicles. Toyota's product lineup includes subcompact and compact cars, minivehicles, midsize, luxury, sport and specialty cars, recreational and sport utility vehicles, pickup trucks, minivans, trucks and buses. In North America, Europe, Japan, and other regions, Toyota's luxury lineup consists primarily of vehicles sold under the Lexus brand. In the sport and specialty segment, the company sells the Scion tC, a sporty model aimed at young drivers. Toyota also introduced the Lexus LFA brand as a high-performance sports model.