Benefit segmentation refers to a marketing strategy in which marketers focus on certain benefits that consumers receive when they purchase services and goods that a company offers. The main idea of this strategy is to enable a company to specifically identify the niche markets of the consumers who are highly likely to affirmatively respond to the products lines of the company and focus its marketing efforts on the identified target consumers’ groups.
Benefit segmentation is considered as one of the most viable approaches of identifying the markets that are otherwise overlooked. This strategy can be used in different ways in identifying consumer groups or markets that can be attracted by certain benefits that come with a product offered by a company.
The wide array of appeals that are associated with a product can cross over the range of the consumers. For instance, some attributes of a product can appeal mainly to a specific niche group while the other benefit of the product can capture attention of other consumers. A company is able to structure a marketing campaign that will reach different niche markets and generate ultimate additional sales by identifying the appeals of the product that captures the attention of various consumer groupings.
To understand benefit segmentation better a company needs to consider a service or product that appears to have a wide range of appeals across gender, economic status and age lines. By considering consumer niches closely, a company can ascertain attributes of their products that appeal to individuals in these consumer segments or groups.
There are consumers who will be attracted to a product due to its price. Others may be attracted to a product due to the long-term association with the brand which may have generated consumer’s confidence in the product. When a company knows the attributes of a product that make it appealing to consumers, it is possible to know what aspects of the product to improve or use in advertising.
With knowledge of the product or service’s attributes that attract consumers it is also possible for a company to determine the right medium to use in advertising the product such as radio or television and highlight the right attributes of the product or service. Just like other marketing efforts, this strategy aims at reaching more customers and retaining them by capturing their interests. When used properly, benefit segmentation can make a product saturate the available markets while generating excellent returns for the producer.
Order an essay on benefit segmentation online
Perhaps, you are required to write an essay on benefit segmentation but you do not have sufficient time for writing your essay. Maybe you cannot find adequate sources that you need to write and submit an excellent essay within the deadline set by your teacher or lecturer. Just place an order for your essay with us at assignmentwritinghelp.net and we will deliver a supreme quality essay within your timeline.
We guarantee you that your essay on benefit segmentation will be written by a veteran essay writer and delivered within your deadline once you place an order with us at assignmentwritinghelp.net.