Market Segmentation Strategies

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Market Segmentation Strategies

In regard to consumer research, advertising research is a unique form of marketing research conducted to monitor the effects of advertising and improve its efficacy. Advertising research focuses on a particular campaign or advert(Zinkan,2012). It may also be directed to how consumers use the information in advertising. Three academic disciplines that play a role in advertising research are information technology, sociology and psychology. Sociology focuses on social classes, trends, ages and family life cycles among others. Therefore, it can be used in advertisingresearch since many methods and defines are used to study society and social behavior. The characteristics of thepopulation are also studied through sociology. After studying such trends, it is possible to decide on which advertising method, for example, campaigns, websites among others is effective for a particular society. Psychology is also involved in academic research since it focuses on learning, cognition and motivation. Sociology also analyses the behaviors and experiences of groups or individuals. This discipline can be used in advertising research in that; behaviors, thoughts and motivation of the population towards a particular product is ascertained. Information technology is a discipline that offers skills in information and communications technology and multimedia and entertainment technology. This discipline is important in advertising research because,through internet programs and social media sites, a marketer can ascertain how the population views their products and how they appreciate the product information posted on websites. This provides the best way to effective marketing.

For effective marketing, marketers need to understand consumers and the marketplace. This helps in knowing the buying power of consumers as well as market share(Zinkan,2012). The above three disciplines have unique contributions in understanding consumers and the marketplace. Understanding sociological determinants such as age, family cycles and traditions as well as social classes is important inunderstanding the marketplace and consumer behavior. This is because different families have different product choice. There are traditional and modern families whose taste of products is different. Understandingthis helps in product segmentation to ensure that allrequirementsof consumers are met(Zinkan,2012). Understanding age differences and social class also ensures that different products are brought to the market in order to satisfy different customers. By understanding social class, a marketer understands the buying power of the market population. Therefore, only products that are within the buying power of the consumers are brought to the marketplace. Sociological trends help marketers understand the buying power, customer choice andproduct preferences in the marketplace.

Psychology in advertising research also contributes to understanding marketplace and consumer behavior. Consumers make decisions on their product choice and product preference (judgment). Customers think of and judge products before purchase. Also, they are motivated by different services or products. Also, behaviors of individuals or groups towards certain products aid in knowing what to be sold in the market. Customers also decide on where to spend their money and time and where they should offer their loyalty. From a marketer’s perspective, the aim of marketing is to sell more goods to large number of people in order to earn profit. Today, there is no aggressive selling. Since today’s customers are knowledgeable, informed, more demanding and discerning, understanding their behavior, cognition and experiences are the best way to win and lure them over to purchase products and request for services. Main individual behavior determinants are important in understanding consumer behavior. Individual determinants of behavior such as attitudes, self-concept and personality, involvement and motivation, purchase decision and post-purchase behavior influence the way consumers go through decision-making process in respect to services and products. It is important for vendors to understand the psychological variables that affect and influence consumers. As such, the decision-making process of consumers can be predicted and therefore decide of what products to be brought in the market place and the probability of the products being accepted in the market(Dev &Don, 2005). Psychology helps marketers in understanding consumer behavior theory.

In this 21st century, almost all businesses have adopted information technology in all operational areas including marketing. Information technology discipline is wide and therefore part from program and software installation, it also includes websites, use of internet and social media. Information technology contributes in understanding the market place and consumers in those marketers have created forums in Twitter, Skype, Facebook, Myspace and other social media sites where customers present their views about diverse range of products(Botterill,MacRury&Richards, 2013). Therefore, through such forums, marketers can understand the products preferred by customers and also what types of customers require such products. In regard to market, technology has limited the world to a small village. Consumer communication through websites helps marketers to understand where certain products are highly needed and therefore distribute their products in such places(Botterill,MacRury&Richards, 2013). Information technology has also increased consumer choice in the form of new products or through increasing the reliability and lowering the cost of existing products. Through technology, consumers are able to navigate today’s market place. Information from marketers to consumers also send quickly through technology. Information technology has quickened marketer-consumer interaction, and this has positively impacted marketing.

References

Dev, C. S.,& Don E. S. (2005). “In the Mix: A Customer-Focused Approach Can Bring the Current Marketing Mix into the 21st Century”. Marketing Management14 (1).

Zinkan, G. (2012).Advertising Research: The Internet, Consumer Behavior, and Strategy. Georgia: Marketing Classics Press

Botterill, J., MacRury, I.,&Richards, B. (2013).The Dynamics of Advertising. London: Routledge