Abstract
With the development of world economy, there are so many enterprises occur around the globe. Simultaneously, the business competition among them is becoming more and more fierce and consumers are also diverse in needs and wants. Thus, the exact market segmentation is absolutely vital for business success and market gains. This paper discusses mainly on the conditions and methods of market segmentation through relevant theories reviews and some real cases analyses. There are lots of bases or variables to segment markets which include consumer markets and industrial markets, such as geographic segmentation, demographic segmentation, psychographic segmentation and behavioral segmentation and so forth. On the basis of these variables, business can segment the market which it can serve best and benefit most from which.
Highlights
Today, companies recognize that they cannot appeal to all buyers in the market or at least not to all buyers in the same way
As China entered into WTO, more and more foreign companies have penetrated into the market of China, which brings about more intense competition and more threats to Chinese enterprises
In order to possess a share of market, Chinese enterprises should carry out market segmentation to find market segments from which they can benefit most and in which their products are most competitive
Summary
Companies recognize that they cannot appeal to all buyers in the market or at least not to all buyers in the same way. Because each of the buyers is unique, and they come from different backgrounds, live in different areas and have different interests and goals. As a result, they are too varied in their needs and buying practices. What’s more, the companies themselves vary widely in their abilities to serve different segments of the market. Many companies are retreating from mass marketing and turning to segment marketing, and history has already read (or is reading) this typical, or the very story in China today. As China entered into WTO, more and more foreign companies have penetrated into the market of China, which brings about more intense competition and more threats to Chinese enterprises. In order to possess a share of market, Chinese enterprises should carry out market segmentation to find market segments from which they can benefit most and in which their products are most competitive
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