Marketers have recognized that the target audiences of a certain product are not all alike. They differ in terms of demographics, attitudes, needs, location and social affiliations. Most markets are made up of different individual customers, sub-markets or segments. Segmentation and targeting of customers allows the marketer to deliver a product within the target audience needs and wants (Pickton and Broderick, 2005: 373). It is a necessity to establish the needs and values of the target customers within each segment, in order for companies to promote their products, brands or services appropriately.
In order for marketers to design the right marketing strategy it is necessary for the marketer to have a great knowledge about the needs and wants. By following the segmentation process the marketer will achieve the necessary knowledge and thereby be able to design a persuasive and appropriate marketing strategy. The aim of this thesis is to understand the segmentation process and the concepts regarding the segmentation process. Furthermore by gaining knowledge of these concepts it should be possible to determine the right target customers of the mobile telephone by analyzing. Within the field of marketing and segmentation, the American professor Philip Kotler is a reputable man due to his many years of research and work within the field of marketing. Furthermore he has received several awards and achievements for his work and commitment and thus theories by Philip Kotler et al. are of certain relevance for this study and will be predominant. However, in order to provide more objective point of view theorists such as e.g. Barrie Gunter el al. will be represented in this study.
MARKET SEGMENTATION.
The market segmentation is mentioned as being one of the key elements of modern marketing and is, as mentioned, the process of dividing the market into several groups and/or segment(s) based on factors such as demographic, geographic, psychological and behavioral factors.