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Market segmentation

10 Jul 2017Essay Samples
  1. The company has distinct marketing boundaries. Firstly, the marketing has used mass marketing, where it uses un-identifiable segments in the markets of its product as well as using a singular marketing mix, in which it incorporates a number of markets. Either focus market is evident in which case; the company customers provide with themselves a distinct mixture of the company’s products. To improve on these market boundaries the company should always ensure consistency in the programs so that there will be no conflict between them.
  2. For this company, both the primary and selective demand is adequately developed. For the primary demand the company is currently attracting many users. For the selective competition, the company is adequately competing well with its competitors. However, to improve on the primary demand the company should work on expanding the nature of its customers even to attract many non users. Elsewhere they should develop ways in which they can increase the rate of current purchases by users. To increase on selective demand, the company should work to compete with it current competitors and try to ensure an attraction to their customers.
  3. The Agilent company finds itself on a competitive edge due to its in build strengths. Its high development in electronic products monopolizes most of its markets. The company has developed products to correspond to high developing state of technology in the current consumer demand. The company due to its long time involvement in this business has a broad range of experience in its manufacturing and even design of its products. It has either a divergent offer of products in which it can provide different consumer requirement in its formation of Electronic Products and Solutions Group (EPSG), which is its subsidiary, makes the company even to expand more and capture a bigger market.

    Due to its broad product diversification, the company can reach many customers and supply them with the relevant materials.

    The development of the test and measurement group is a weakness to the company which finally led to the down turn of the company. These were poor decisions that perhaps were reached abruptly without specific requirements.

    The company had changed their marketing systems, which were now threat to its customers. They had a negative impact to it, which could almost outweigh their consumption requirements.

    The development of EPSG had led to a loss in customers trust with the former HP brand. Studies showed that the customers had highly reduced the consumption of its products due to the subsidiary nature of EPSG.

    With its well established monopolistic system, Agilent Company is able to penetrate deeply to its market. This is because; its wide product range can imply supply of a diverse product in the market. Either, Agilent is vulnerable to reaching many customers through a diverse advertising strategy, which is through the internet and product advertisement through other methods.

    However, the company faces the threat of business failure due to its stringent nature of business performance nature. Due to its one line production system in electronic products, any possible loss of trust by the customers can lead to possible market failure.

  4. In order to catch a wider geographical area for its customers the company should, segment its market appropriately; firstly, it should apply geographic segmentation; which should be in terms of geographically allocating the customers on geographical grounds. This can be in terms country, or even state. This is aimed at meeting the customer requirements of different regional customers. Within this geographic segmentation, the company further segmented it under; multiple segmentation strategy, where it will use its separate mixes to more than one of its segments. Elsewhere, they can segment by life styles, where, each of its products would be geared towards promotion strategy for different customers in terms of life style. Also, using combined segmentation in which the company will target some similar segments.

    Industry, segmentation, the company use the different industries within the company to segment its market. This should be in realization of the many product line that the company works with.

  5. There are various marketing boundaries that the company can choose to use. This depends on the nature of resources that the company has. Due to its diversity in resources then, it can apply different markets. Firstly, use of singular marketing mix which will involve the company to only use some few markets. This is in recognition of any limitation in the resource variables. Either it can use mass marketing in which case, it will combine all the markets segments, within its entire market. This enables it to capture diverse customer requirements. It can also use a combined market mix, which will usually target markets, which are similar in product requirement. (Mitchman, Mazzee, Greco, 2003, p.49)
  6. To achieve a high business turnover in the market with many competitors, the company should develop the behavioural segmentation is regard to their resources and the buying characteristics of its customers. This is perhaps a strategy to help the company make full utilization of its resources for the highest production. To achieve this they should evaluate the customers’ reason their product purchases. This should be done through a clear study aimed at learning the consumption patterns of the consumers. They should also try to investigate of how the customers have been using this product since then and the possible benefits that might a have accrued in the use of the products. This helps the company know the exact customer requirements for its diverse products. The essence in behavioural segmentation basically will involve the behaviour developed by them, products offer that is equal to the customer requirements to their products. They will therefore develop their production system in line with the different customers’ behaviour and any product customer relationship.
  7. The company product life cycle is too dynamic. Thus the company possesses a dynamic product life cycle. This is seen by the change in company products at more often without regard to some standardized time frame schedules. The product technology also posses a dynamic product technology, in which the technology in its product is adversely changing with time. With maturing technology, then change in the products in terms of lifestyle and product nature changes adequately. Due to the changing product then the market mix with as well change to incorporate this change in the product. Perhaps the company will dwell too much on using singular market which will involve the use of only some few markets. This is because the company will have a broad product in its market which calls for greater market. Perhaps the company would do better by adopting the combined market mix which will diversify its markets and product on offered. (Mitchman, Mazzee, Greco, 2003, p. 67)
  8. Due to the nature of its business undertaking, the company should use, the cost based competitive strategy, with this it involves the company to focus on increasing the products demand selectively across the market through a programmed and monitored selective manner. It can achieve this through a controlled acquisition of any possible consumers for its competitors. Due to their divergent and high technologies product, the company through this strategy can acquire the customers for the other competitors. Here, the company should focus on developing technically possible advantages through this method; the company will be able to possibly attract more customers.
  9. The company should employ on the use of the global strategy in its pursuit for a global market. Using the global market, the company will form a competitive environment both in the domestic market and the globe as a whole. Using this strategy, the company should maintain centralized corporate system in its domestic markets as well as operations in the marketing domestically.
  10. However, the company should choose to decentralize, its manufacturing system and the, research and development. With its decentralized markets, the company should export its products to the global market. Depending therefore on the nature of the possible efficiencies that may be in the global market, the company will use the resources in the global market to provide it market with its product. With this strategy, it will be able to attract both the domestic and global market effectively. With this strategy, the company can use the possible resources in the global market to develop a product mix of its diverse production requirements.

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Reference:

Mitchman, R, Mazzee, E, & Greco, A, (2003) Lifestyle Marketing: Reaching the American Consumer: Westport,CT, Praeger.

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