Transcription of Market segmentation - Wharton Faculty Platform
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Market segmentation - Wharton Faculty Platform
CHAPTER 11 Market segmentationYORAM (JERRY) WIND and DAVID R. BELLAll markets are heterogeneous. This is evident fromobservation and from the proliferation of popularbooks describing the heterogeneity of local andglobal markets. Consider, for example, The NineNations of North America(Garreau, 1982), Latitudesand Attitudes: An Atlas of American Tastes, Trends,Politics and Passions(Weiss, 1994) and MasteringGlobal Markets: Strategies for Today s Trade Globalist(Czinkota et al., 2003). When reflecting on the natureof markets, consumer behaviour and competitiveactivities, it is obvious that no product or serviceappeals to all consumers and even those who pur-chase the same product may do so for diverse rea-sons. The Coca Cola Company, for example, varieslevels of sweetness, effervescence and package sizeaccording to local tastes and conditions.
segmentation is the firm’s response to a funda-mental market feature – heterogeneity. The likely success (or otherwise) of the firm’s segmentation strategy is assessed through a segmentation audit discussed next. The firm enacts the segmentation strategy through: (1) data collection, (2) applica-tion of models and frameworks and (3) resource
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