"Market segmentation has become narrowly focused on the needs of advertising, which it serves mainly by populating commercials with characters that viewers can identify with – the marketing equivalent of central casting…The idea was to broaden the use of segmentation so that it could inform not just advertising but also product innovation, pricing, choice of distribution channels, and the like."
- I start by quoting this line from the article because it is the central point on what the article is meant to be about. This quote gives us the marketers great insight to figure out and decide types of products and services to consumers or audiences. The most interesting thing that I read on the article was the different segmentation's for different purposes. This part of the reading included a chart that helped to describe the authors meaning on the topic. It talked about how business could improve its market segmentation. The authors described that if meaningful segmentation's rely in finding patterns in your customers behavior, then it is important to gather relevant data. The confusing part of the article was the part about the gravity of decision spectrum. It confused me because it was trying to describe the difference between what consumers buy and the significance of the items. The authors were saying that buying items such as snack and toilet paper don't have the same significance as purchasing a car or home. This confused me because as a buyer, I treat all items I purchase with the same significance know matter what the price is. Two questions I would ask the authors are what was the audiences responses to your article and what should business mainly focus on to have the best market segmentation? I would ask these questions because it would help me understand the article a little better and it would give me feedback from the audience that read it as well. I don't think the author was wrong about anything, but I do think the authors should make there points more clear for the reader.
Great reflection Zach!
ReplyDeleteYou seemed to have gained some well marketing insight from the reading. I do agree that market segmentation is key for creating a niche for one's business and standing against the market competition. As for the gravity of decision spectrum, if you truly buy everything with the same significance as you would buy a home or car then you must be a picky buyer indeed. I honestly buy whatever toilet paper or snacks happen to be around, and I'm fairly satisfied in my buying decisions for the greater half of it. On the other hand, I can spend months researching different vehicles before I finally settle on a car I like.
Keep up the good work!
-Angela