THE BASES FOR MARKET SEGMENTATION IN A SERVICE ORGANIZATION IN ENUGU METROPOLIS
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THE BASES FOR MARKET SEGMENTATION IN A SERVICE ORGANIZATION IN ENUGU METROPOLIS
ABSTRACT
There are many purchasers in today’s global market, each with a unique set of characteristics. Thus, variances in wants, spending power, geographical location, and buying attitudes can all be used to segment a market.
Segmentation is a marketing phrase used in the marketing profession, and it is critical for any product that aspires to progress from the preliminary growth stage to the maturity stage of its life cycle.
This study aims to critically evaluate the bases for market segmentation in a service organisation, with an emphasis on Etisalat in Enugu.
To ensure the success of this research project, the researcher will employ both primary and secondary data collection approaches to obtain information. Primary data was gathered through.
a) Questionnaire administration.
b) An oral interview,
c) Personal observation.
Secondary data was gathered through
a) periodicals and journals
b) Textbook and lecture notebooks.
c) Internet.
The acquired data were displayed in tasks and analysed using basic percentages. It was discovered after conducting a thorough investigation into the principles of market segmentation in a service organisation. Etisalat’s market segmentation resulted in higher patronage for its products and services.
Based on the study’s findings, the researchers offered the following recommendation: marketing organisations, particularly those in the telecommunications industry, should practise market segmentation because it decreases the risk that the organisation faces when it does not.Chapter one
INTRODUCTION
1.1 Background of the Study
According to Edoga (2003: 86), marketing segmentation is the practice of dividing the whole market into generally homogeneous groups with similar product preferences.
According to marketers, this method entails discovering characteristics that influence purchasing decisions in order to categorise people appropriately.
According to Adirika and Nnolim (1996: 39), most marketers are too large for organisations to meet all of the wants of market purchasers; therefore, some market delimitation is required for efficiency, and segmentation is unavoidable due to limited resources.
According to Adirika & Nnolim (1996: 39), market segmentation is the division of a heterogeneous market into homogeneous subsets or groups of customers so that each subset or group can be identified as a different market target to be approached with a distinct marketing mix.
They went on to say that in segmentation and, as a result, target marketing, organisations strive to serve target groups that they can efficiently service, rather than any group of consumers that appear to constitute a sizable market.
The segmentation strategy is predicated on the guarantee that customers’ tastes evolve over time. Organisations, particularly the banking industry, must make decisions based on two types of needs:
a) What needs to be served,
c) Who needs to serve?
Markets are made up of buyers with different demands, purchasing power, geographical location, and purchasing patterns. Today’s marketing landscape allows for the use of any of the variables to segment a market.
We have group economy segmentation, which provides a better understanding of what the marketing notion is about. A company that chooses to operate in a broad or differential market, whether consumer, industrial, reseller, or government, understands that it will be unable to satisfy all consumers in that market.
According to Onyeke (2008: 254), using this method requires a seller to recognise that his whole heterogeneous market is made up of several smaller heterogeneous Units. Each of these tiny units has an own set of demands.
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