Market Dynamics Analysis and Multiple Segmentation, Essay Example

Do you feel that the segment is or is not sufficiently well-defined? Why?

Looking at the websites provided, there are a multiple items advertised, most of which are not under the same market niche. Therefore, the marketing segmentation strategy depicted in this case is the multi-segment strategy. Under this strategy, the businesses targets more than one market segment; in the process, they develop customer profiles that suit the needs of each of its customers. After this, they are well positioned to bring in goods and services that will satisfactorily meet the needs of each of the market segment (Wedel & Kamakura, 2007, p.130).

The market segments are not clearly defined, however, from the manner in which various items are arranged and classified, it can be deduced that a multi-segment strategy is underway. Moreover, there are a number of products and services that have been advertised; this is an indicator of multiple market segments from various niches (Lee, 2010, p.120).

As well, price differential between different product brands can be easily maintained in these segments, and the consumers within the segments may be willing to pay premium prices for the tailored products and services. These features are mostly available in the multi- segment strategy and elements of such are quite evident in the websites presented (McDonald & Dunbar, 2009, p.122). The market niches may not be vividly presented; however, taking a closer look at various items advertised, the element of multi-segmentation is clear.

In conclusion, the websites present various products most of which are of different brands, niches, tastes and preferences. Such characteristics depict a multi-segment approach mostly applied by companies that have multiple product brands and wish to attain equal market coverage. Therefore, the ideal choice in such situations is the creation of many market segments.

References

Lee, R. S. (2010). Market dynamics analysis and multiple segmentation. New York, N.Y.: Pace University.

McDonald, M., & Dunbar, I. (2009). Market segmentation how to do it, how to profit from it ([3rd ed.). Amsterdam: Elsevier/Butterworth-Heinemann.

Wedel, M., & Kamakura, W. A. (2007). Market segmentation: conceptual and methodological foundations (2nd ed.). Boston: Kluwer Academic.