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An academic assignment from a university course named customer relationship management (mkt610) held in spring 2012. The assignment, named 'assignment no. 2', is focused on the topic of market segmentation. Students are required to describe how different industries, including a paper clips manufacturer, salt manufacturer, architect, airline industry, automobile manufacturer, lawyer, fast food, and designer clothes’ wear, can be segmented using unsegmented mass marketing, market segmentation, or customized marketing approaches. Instructions for completing the assignment, learning objectives, and specific instructions for submission.
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Topic: Market segmentation Learning Objectives :
Mass marketing is an approach wherein the manufacturer engages in mass production, mass distribution, and mass promotion of one standardized product aimed for all sorts of customers. This leads to lower costs, lower prices and higher margins. Nowadays, however, as customers are getting to know about their varied and different needs they want to be treated differently too and thus require customized solutions with something changed from the rest of the crowd. In response to such customer demands companies are using market segmentation and customized marketing to approach a heterogeneous market. In market segmentation approach firms provide product options that meet the needs of a defined group. In customized marketing approach each individual customer receives personalized treatment.
The basic logic behind market segmentation is that not all buyers are alike. Keeping the logic of segmentation in view describe how following would segment the market by choosing from any of the three approaches of segmentation like unsegmented mass marketing, market segmentation, customized marketing. Give appropriate reasons to substantiate your answer.
Learning Outcomes : After doing this rationale based exercise:
Specific Instructions for doing the assignment
Please read the following instructions carefully before preparing the assignment solution:
Note: Only in the case of Assignment, 24 hours extra / grace period after the due date is usually available to overcome uploading difficulties which may be faced by the students on last date. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
Other Important Instructions
Deadline:
Formatting guidelines:
Solution guidelines: