Research Paper on "Market Segmentation Is a Way to Differentiate"
Research Paper 4 pages (1039 words) Sources: 4
[EXCERPT] . . . .
Market segmentation is a way to differentiate a group so that the seller of goods or services does not concentrate on the entire universe, but on a group of high potential customers that are more likely to purchase the product. The SDL theory can help us uncover ways to use segmentation by concentrating on two important areas of the marketing/consumer experience itself and the more remote and less immediately focused model. A market segment, of course, is a sub-set of the entire marketing unit that is made up of individuals or organizations with characteristics that allow them to be grouped together to provide a more appropriate marketing experience, a more individuated for of sales. Since different segments have different values, the homogeneity with in the segment defines the common goals and needs. This has been part of the more sophisticated manner of looking at specific demographics and psychographics to set pricing, packaging, and even types of service. In effect, while there may be a number of "ideal" market segments for a specific product or service, manufacturers must develop different ways of creating product different ion strategies to exploit different segments. In many ways, this was the precursor to SDL in that it focused on the specific needs and wants of a group of consumers as opposed to simply "selling" what the manufacturer made, and hoping for the best (Baker and Saren, 2010, 336).Psychodynamics is the theory and study of the forces that form the basis of human behavior -- especially conscious motivation vs. unconscious motivation. This fits into marketing theory in that if psychological needs are met then customer satisfaction with products or services are thus met as well. In
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We can easily build on our theory of SDL and service by enhancing traditional models:
If we then model the psychodynamic issue of our original map we can expand the basic structure of the new paradigm that will use psychographics to enhance the consumer experience:
MODE
Psychographic Focus
Service Benefit
UNCOVER
Basic demographics that ask questions of who, what, when, where, why, and how. What are the things that drive the customer?
By better understanding the actual service needs of the customer, the initial benefit relationship of the Service Logic Model begins. Without understanding the consumer perspective, we cannot fully understand their needs.
DEFINITION
Based on the lifestyle (demographic and psychographics indicators), what actually identifies this customer or group and their specific needs and desires?
How do these consumers define themselves and their needs? Are we able to meet those needs or mitigate a solution? What issues do we as service providers need to address to become more consumer friendly?
IDEATION
What are the basic psycho- dynamic drivers for this group and how to they fit in with the necessary wants, needs and desires of the population?
Can these drives be mitigated… READ MORE
Quoted Instructions for "Market Segmentation Is a Way to Differentiate" Assignment:
Segmentation
Consider the psychographic elements that you might include in your new developed theory. Review existing research on emotional intelligence and determine how it fits within service theory. Develop a series of dimensions you will utilize as a main focus with the premise of improving human capital to benefit SDL. Identify other characteristics to include in service theory, reflecting alternative segmentation strategies.
Compose a paper that analyzes how psychodynamics may alter SDL performance. Also construct a proposal of theory development using scales and measurements (personality, loyalty, dedication, intelligence, and other scale metrics) to enhance and extend SDL.
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How to Reference "Market Segmentation Is a Way to Differentiate" Research Paper in a Bibliography
“Market Segmentation Is a Way to Differentiate.” A1-TermPaper.com, 2011, https://www.a1-termpaper.com/topics/essay/market-segmentation-way/484250. Accessed 4 Oct 2024.
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