Segmentation and Market Target Paper Essay Example | Topics and Well Written Essays - 1750 words

Segmentation and Market Target Paper - Essay drillThe essay discusses Apples criteria for market sectionalization as well as market partitioning mediums.The main approach that the company uses is market segmentation. The managements market segmentation is based on concepts of economics while dividing organizations and people into categories with a derivative of similar products. According to Hiebing, Cooper & Wehrenberg (2011), the concept responds positively to the marketing messages of the product. In achieving this, Apple eliminates wasted resources with an attempt of marketing to consumers without interests in the companys product. The contrasting segmentation types used by Apple include Demographic, Psychographic, Geographic, and Behavioral Segmentation utilized in creating hard-hitting marketing campaign.According to McDonald & Wilson (2011), Apples demographic segmentation involves division of the company products based on characteristics of certain market. The approach i ncludes income, age, sex, race, and education. The geographic segmentation concepts are differentiated on the basis of physical locations in potential consumers. Further, Apples psychographic segmentation involves the lifestyles or personalities of potential consumers. Behavioral segmentation for the Apple fellowship is based on the analysis of consumers actions. According to Estelami (2009), market segmentation in has narrowed from complicated processes that compulsory significant research on consumer behavior. Currently, the firm has in-depth understanding of company objectives and goals. The initial step for market segmentation involves identification of considerable markets that are attained through existing channels. For instance, Apple Inc. has produced the iPod as one of its quick moving consumer goods. On the other hand, prior the start of research and development for the product, the department identified broad markets used by the iPod within music markets.The