The Importance Of Market Segmentation In The Philippines

INTRODUCTION

Market segmentation is very important for every business establishment here in the Philippines because it is important to segment your market to have e target market that could possibly buy the business’s product. In segmenting your market you are going to divide all of the possible consumer or buyer of your product this is to have a specific buyer for the said product so that your business would be fixed or it could maintain the standard of the product or the quality of service for a specific buyer. In segmenting the market the generations of the people are important to consider because people are different base on their generation.

The generations that are included in the said generations are the millennial generation, baby boomers,

This is for the business to have a specific group of people that would probably avail their products. Market segmentation is the process which divides people base on their buying behavior. Market segmentation is a marketing strategy that is very helpful for every business because this segmentation could help a business to keep their customers and make them satisfy in a way that they are having a good feeling and thinking that “that certain business is for me” because the concept of the business is based on what their target market wants, needs, expectations and demands. Segmenting of customers is an advantage for every business because in having a target market they could already had an idea on how they will run, manage and operate their business. This segmentation could also help in the growth of the business because of its consistency that was based on their target market. In segmenting of customers their behavior, psychographic, geographic and demographic differences are to be considered because people are very different in such

The millennial generation is very close to their parents unlike the generation x which is not. This generation often continuo to live with their parents even if they already had their own family.

Conclusion The generations of present people as of today are very different from each other in many aspects and these differences made it hard for the companies to segment their target market. But it is a must to segment well for their own good. Market segmentation is important for every business it is a big help for them to achieve the goal of success for their business. Market segmentation can help them to perform their business well because all of their incoming actions are based on their target market that would surely buy their products. Having a target market could maintain and sustain a business growth because this segmentation would keep the business on having a sure customer. This research paper really consists of ideas and knowledge about Market segmentation and the three present