Market Segmentation is an extremely powerful tool as it allows marketers to identify and target different customer groups based on their value to the company as well as their needs, attitudes, opinions and behaviors.
View these two YouTube videos and answer the questions that follow:
-An Introduction to Market Segmentation, Kyle Murray, Alberta School of Business, University of Alberta, August 30, 2018
-Market Segmentation Variables, Kyle Murray, Alberta School of Business, University of Alberta, August 30,2018
Answer the following:
What are the advantages of market segmentation?
Of the types of segmentation variables, which do you believe are the most important, and why?
Should segmentation be based on existing or prospective customers, or both? Explain the reasoning behind your answer.
