Competing Through Marketing Assignment Example | Topics and Well Written Essays - 3000 words

Competing Through Marketing - Assignment Example zed basis to a point where additional promotions expenditures are already yielding diminishing returns; an agreement that has been spread all over states that markets should form good foundations that will help and bring forth successful marketing strategies and major activities (Baines, Fill and Page 2009, p217). The main purpose of market segmentation is basically to leverage scarce resources; more so it ensures that the major elements of marketing mix, distribution, promotions, products and prices are designed in a very special way that helps them meet the particular desired needs of different various customer groups. Organizations have very finite resources that do not allow them to produce possible products basically for all the people at all the times; normally the best thing that they aim at is basically to provide selected offerings for the selected groups of people and this is mostly most of the times. The process permits the organizations to focus on the particular consumer’s needs, in the most effective and efficient mode. The concept of market segmentation is associated with the product differentiation. Aiming at different market segments requires adaptation to a number of variations that need to be offered to satisfy those segments. If one adapts to a different version of providence, this may appease the different market segments (Baines, Fill and Page 2009, p218). A good example is the section of fashion retailing in which one might adapt clothing range so that the skirts are the most colorful, utilize lighter fabrics, and a very small hemline – this fashion style is most likely to appeal the younger women. If one decides to appeal the older women, then one might be required to change the skirts styling by utilizing darker heavier fabrics which have a long hemline. This is the strategy that was used by Marks and Spencer (M&S) to attract the young female shopper to their M&S stores and offer competition directly with Next and Debenhams for the