Market segmentation on event industry Essay Example | Topics and Well Written Essays - 2000 words

Market segmentation on event industry - Essay Example However, it is worth noting that the marketing concept revolves around goal achievement, customer orientation as well as integrated efforts between the various marketing players (Quang, 2013, p. 6). Research studies that have been done in the recent past reveal that majority of modern marketing techniques are used to deal with consumers’ behaviors. The information that marketers get from the consumers is thus seen to be very important while deciding on the appropriate marketing procedures as well as practices in order to achieve efficiency within the market. This describes why majority of modern marketing revolves around consumer behavior while carrying out a market analysis, target market selection, market-mix determination as well as the marketing strategies mostly reliable within a certain market segment (Bello, 2008, p.1-4). This therefore explains the various marketing mechanisms that are in use today, and which are determined by the consumer behaviors exhibited. For inst ance, Singh and partners reason that human behaviors in purchasing as well as consumption are greatly influenced by attitudes or preconceptions about the specific product or service. This imply that consumers are driven by some preconceived ideologies about goods or services and this influences the decision making process by the consumers. Attitude would refer to the ideological conception that exist in one’s mind about the product and which greatly influence the buying habits of the consumer. They sought to study the consumer behavior and the green marketing through special focus on gasoline products. By collecting data through surveys and then analyzing them through regression method, the group found supportive evidence that the consumers’ behaviors have greatly influenced the marketing procedures within the context of gasoline products in that most preference is now banked on the environmental friendly gasoline products. This has therefore the implications that majo rity of suppliers of the energy products such as the gasoline products are driven to market their products in ways that are most appealing in manners of environmental appeal. This explains the modern marketing mechanisms that are adopted by the firms dealing with such products (Singh et al, 2011, p.101). Market segmentation Marketers today have a tendency of responding to the customers’ behaviors through various mechanisms or ways. These ways are however dependent on customers’ behavioral response to the urge to have their needs and wants met. Among the major ways that have in the recent past characterized marketers responses to these behaviors is the market segmentation. This refers to the specialization of marketing approaches to focus to various market groups. This is by taking the consideration that the entire market frame is composes with different categories of people who could be potential customers. However, depending on certain group characteristic, the differ ent groupings require different approaches in marketing in order to be effective in targeting them. For instance, marketing strategies targeting the elderly may not be effective through the digital advertisement and promotions; whereas the technique would be most appropriate for the young generation segment. Marketers are continuously acknowledging the differences