Segmentation and Target Market

Segmentation and appropriate marketing management in target markets is one of the main determinants of business success. Segmentation, target marketing and positioning are important in marketing management techniques. The market segmentation process identifies market elements as different groups or segments based on a specific profile (Kotler and Keller, 2012). Target marketing involves selection of market segments and development of strategies to attract selected consumer groups (Kotler and Keller, 2012).

The ultimate goal of market segmentation is to select the target market or market. The market positioning including market segments the company is about to offer services and the process of determining these market segments is called target market determination (vignali et.al, 2008). Adidas can adopt three marketing strategies, namely, no difference, differentiation, and centralized marketing to determine the target market. There is no difference - it can be said that companies ignore specific market segments to achieve revenue, and create and enter markets completely with their own marketing mix. The advantage of this strategy is to reduce costs. Because the same product, promotion, price, and sales effort across the market guarantees low cost (vignali et.al, 2008).

Market segmentation, target markets and positioning markets - that is, the total number of all actual customers and potential customers - are usually divided into groups of buyers with similar characteristics. The purpose of the market segment is to concentrate the marketing / sales program on a subset of potential customers that are most likely to purchase products 7. Among these groups, there is a target market that is identified as the best market. There is a restaurant. The reason for subdividing the market and establishing the target market is to concentrate limited marketing resources to achieve maximum profit. Three typical subdivisions are included: ■ ■