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Management theorists in the fifties and sixties of this century predicted that marketing would have an active role in supporting and ensuring the success of both private and public organisations. Indeed, the present century has witnessed many events and developments that have affected individuals' lives and their economic and social wellbeing, and these events and developments are expected to increase and intensify in the coming century.
Market Segmentation
What is meant by market segmentation is dividing a particular market into distinct categories of buyers who have similar general characteristics and needs. A company's market can be segmented by developing a marketing programme suited to the needs of the chosen segment, which would not be possible for the market as a whole.
Disadvantages of Market Segmentation
Higher cost, because segmentation means devising more than one marketing mix.
Increased effort required of salespeople through dealing with many different types of consumers.
A sometimes smaller market size as a result of dividing a single market into several segments.
Training kits in the field of marketing and sales
Marketing and sales staff, entrepreneurs, and anyone looking for opportunities in new markets.