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. Effectivemarketing and business strategy therefore requiresa segmentation of the Market into homogeneoussegments, an understanding of the needs and wantsof these segments, the design of products and serv-ices that meet those needs and development of marketing strategies, to effectively reach the targetsegments.
available for use (see, e.g. Dahan and Srinivasan, 2000). These changes are leading to the creation of ‘one-on-one marketing’ or segments of one. The Ch11-H8566.qxd 8/8/07 2:04 PM Page 222. Market segmentation 223 globalization of business expands the scope of
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