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  • Essay / Market Segmentation for Businesses - 1438

    INTROCreating value for both customers and businesses requires marketing research and processes related to market segmentation. To achieve effective and useful market segmentation, there will be some steps and concepts that need to be known. Companies should pay attention to segmenting their products and entering a new market. For this reason, the company takes into account all market segmentation processes, such as targeted marketing, consumer market segmentation, commercial market segmentation, international market segmentation, brand value. relationships with customer value, advantages and disadvantages of segmentation.SEGMENTATION AND CONSUMER SATISFACTIONCustomers are at the center of all marketing processes because marketing focuses on customers.The reality of marketing is to evaluate to provide benefits to the both to customers and marketers. .(Pride, Ferrell, 2008; 3) Satisfying consumer needs and creating value for customers are the most important concepts for marketers in today's world. Similarly, if marketers satisfy customer requirements, existing products create high customer value and effective use of marketing mix so that the product can sell easily. (Armstrong-Kotler, 2011; 33) For customers, it does not matter what segments exist or how companies divide customers into segments. The most important value to customers is the product and service that meets their needs better than any other company. Market segmentation involves dividing the market into analog groups or segments of customers and choosing the most appropriate groups or segments that share the same or similar needs.(pride-ferrell,2008;271) Market segmentation.... .. middle of paper ......ents.(Global Automobiles and Components, 2011;25)Toyota Motor Corporation +. The company sells its products under the Toyota, Lexus, Hino and Daihatsu brands. Vehicles manufactured by Toyota, Daihatsu and Hino can be classified into two categories: hybrid vehicles and conventional engine vehicles. Toyota's product line includes subcompact and compact cars, mini vehicles, midsize, luxury, sport and specialty cars, recreational and sport utility vehicles, pickup trucks, minivans, trucks and bus. North America, Europe, Japan and other regions. , Toyota's luxury lineup consists primarily of vehicles sold under the Lexus brand. In the sports and specialty segment, the company sells the Scion tC, a sporty model aimed at young drivers. Toyota also introduced the Lexus LFA brand as a high-performance sports model..