The Effect of Market Segmentation on Demand and Supply
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The Effect of Market Segmentation on Demand and Supply
Market segmentation is the process of dividing a larger market into smaller groups of consumers who have similar needs, preferences, and behaviors. The goal of market segmentation is to identify groups of customers with specific characteristics that are most likely to respond to marketing efforts. In this essay, we will discuss the effect of market segmentation on demand and supply.
Effect on Demand:
Market segmentation has a significant impact on demand. By dividing the market into smaller segments, companies can identify the specific needs and preferences of each group of customers. This allows them to create targeted marketing campaigns that are more effective in reaching potential customers.
For example, a company that sells athletic shoes may segment its market based on age, gender, and lifestyle. By doing so, it can tailor its marketing efforts to each group of customers. For example, it may use social media to target younger customers, while using television ads to target older customers. This targeted approach can increase demand for the company’s products, as customers feel that the company is speaking directly to them and addressing their needs.
Market segmentation can also help companies to identify new opportunities for growth. By analyzing the needs and preferences of different customer segments, companies can identify areas where they can expand their product offerings. For example, a company that sells athletic shoes may discover that there is a demand for shoes that are specifically designed for people with flat feet. By creating a new product line that meets this need, the company can increase its market share and revenue.
Effect on Supply:
Market segmentation also has an impact on supply. By identifying the needs and preferences of different customer segments, companies can adjust their production and distribution strategies to better meet demand.
For example, a company that sells athletic shoes may discover that one segment of customers prefers shoes with more cushioning, while another segment prefers shoes with more support. By adjusting its production process to create different types of shoes, the company can better meet the needs of each segment. This can lead to increased sales and revenue, as customers are more likely to purchase shoes that meet their specific needs.
Market segmentation can also help companies to optimize their pricing strategies. By understanding the willingness to pay of different customer segments, companies can adjust their prices to maximize revenue. For example, a company may discover that younger customers are willing to pay more for athletic shoes with trendy designs, while older customers are more price-sensitive. By adjusting its pricing strategy to reflect these differences, the company can increase its overall revenue.
Conclusion:
In conclusion, market segmentation has a significant impact on both demand and supply. By identifying the needs and preferences of different customer segments, companies can create targeted marketing campaigns, identify new opportunities for growth, adjust their production and distribution strategies, and optimize their pricing strategies. This can lead to increased sales, revenue, and market share for companies that effectively use market segmentation.
The Effect of Market Segmentation on Demand and Supply
RUBRIC
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Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
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30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
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5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
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10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
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7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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