Abstract
Marketing is a vital element for business success in today’s world. Competition is cutthroat, making it challenging for competitors to survive in the market for lengthy periods. The core belief of marketing has become “adapt or die”, which initiates the need for creativity and innovation in the traditional methods to marketing. Right and effective marketing strategies often involve a combination of several marketing strategies, which work together in a synergistic way to establish the brand, generate interest, and desire the product with the goal to achieve a competitive advantage over competing organizations. To successfully attain this, it is vital to device new creative methods of reaching a larger pool of consumers through applying creativity to the market segmentation practice. The subsequent discussion studies traditional market segmentation and recommends creative strategies while segmenting the market.
Highlights
The role of the creativity in the segmentation processTo this researcher, creativity is a prevailing act or idea that is transformed into a new one
The role of creativity is vital for competitive advantage and the success of an economy in changing from an industrial production economy into innovative one [2]
Since we are living in a dynamic environment where tastes, opinions, preferences and personalities of consumers change rapidly from time to time, it is crucial for management to always evaluate the efficiency and usefulness of the organization’s present positioning strategies of its brands in relation to competing products in the market to gain a sustainable competitive advantage [9]
Summary
The role of the creativity in the segmentation processTo this researcher, creativity is a prevailing act or idea that is transformed into a new one. It can likewise be viewed as a process of dividing the market into clearly smaller groups of consumers with same needs, wants and characteristics, choosing one or more parts to target with a clearly defined and custom tailored marketing mix. A business will be able to know buyers’ needs and wants in different segments in which it intends to sell its products and services.
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