EFFECT OF SEGMENTATION IN THE TARGET MARKETING OF NBL PLC IN ENUGU STATE
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EFFECT OF SEGMENTATION IN THE TARGET MARKETING OF NBL PLC IN ENUGU STATE
Chapter one
INTRODUCTION
In today’s modern and dynamic world, marketers see the entire market as a body made up of many smaller components, each of which shares some traits.
They are largely distinct from the overall market. Marketers entering a market must divide the overall market into segments or divisions that are comparable in terms of internal wants and needs or behaviours. As a result, it will design its own programme to ensure its complete fulfilment.
According to Adirika, Ebue, and Nnolom (1997:40), most marketers are too large for their organization’s target market. Market delimitation is required for efficiency and limited resources. This leads up to market segmentation.
According to Edoga and Ani (200:18), market segmentation is the process of splitting the entire market into multiple generally homogeneous groups with similar product interests.
This approach, according to them, needs marketers to uncover elements that influence purchasing decisions so that consumers can be classified appropriately.
According to Adirika, Ebue, and Noolom (1997:30), marketing segmentation is the division of a heterogeneous market into homogeneous subsets or groups of customers so that each subset may be identified as a separate market target to be reached with a district marketing mix.
They also stated that in segmentation and, as a result, target marketing, organisations strive to serve a target market that they can efficiently and effectively please, rather than any set of customers that appear to constitute a sizable market. This involves the marketing of beverages.
Adirika (1992, 2-9) believes that the wars for the hearts, minds, and wallets of customers will be won on a block-by-block, purchase-by-base basis. This strategy is based on the concept that consumers have distinct tests that change over time,
and that these customers and variety (customisable), every organisation, including the brewery sectors, must make decisions on two areas of need:
– What needs to be served
– Who needs to serve?
The market is made up of buyers with different demands, purchasing power, geographic areas, buying attitudes, and buying behaviours. In today’s marketing climate, any of the characteristics can be utilised to segment a market, and our grouping economy segmentation provides a better understanding of the marketing notion.
A company that decides to operate in a broad or differentiated market, whether consumer, industrial reseller, or government, recognises that it will typically be unable to satisfy all customers in that market.
Edoga (1995:86) believes that market segmentation is disagregative on its several demand schedules, of which only one was recognised prior to market segmentation.
This is a device used to assist management in dividing a given total market demand into sets that are relatively homogeneous and have certain specified characteristics by which they are identified.
Market segmentation is customer-oriented, and thus a consistent idea. In segmentation, we first identify the needs and desires of customers (consumers) inside a submarket, and then determine if it is feasible to design a marketing mix to meet those desires.
Management may improve its marketing performance and make better use of its resources by adapting marketing campaigns to specific market segments.
STATEMENT OF PROBLEMS
Effective segmentation has been discovered to be a powerful marketing tool for improving marketing performance in the face of rising market competition. M.B.2 = Nigeria Breweries Plc has registered her name in the brewing sector. Among other competitors are Guardness Plc, Life Breweries, and so on.
Nigerian breweries have seen fierce competition among the several brands of bear sold to customers, including as Star, Gulder, and Maltona.
Nigeria Brewery Plc has long maintained its market leading position.
This product has performed exceptionally well on the market, with most customers preferring this brand over competitors.
In relation to the foregoing,
How has this segmentation strategy helped Nigeria Brewery Plc meet the demands of its customers?
Is this success the product of successful segmentation strategies?
Is this an improved service as a result of a better segmentation strategy?
What are the expected advantages of this strategy over the competitor brand.
In conclusion to the above lines of reasoning/postulations, it is strongly stated that segmentation is the key word for effective customer satisfaction in the catering industry.
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