The market is a collection of consumer groups whose needs are very similar. Obviously, different group consumers want to purchase completely different services and products. In order to satisfy these needs, sellers and consumers organizations seek to identify certain groups of consumers who respond positively to the products offered and direct marketing activities to these groups.
The market consists of segments that consist of users whose needs differ from the needs of users of other subgroups. Market segment - a group of consumers, which is characterized by the same type of reaction to the proposed products. In order to engage in quality promotion of services on the market, it is necessary to identify the various consumer groups that make up this market and which can offer various services, this process is called - segmentation market.
The benefit of adopting a concept such as market segmentation stems from the competitive advantage that lies in it. With this concept, the entrepreneur's products are addressed to a separate part of the market. This brings a real opportunity to expand the clientele and increase profitability by specializing in specific clients.
The benefits of market segmentation are supported by the following arguments:
1) A real understanding is provided, both of the needs of the consumer and of what they are (the nature of market behavior, personal characteristics, etc.).
2) A real understanding of competition in certain markets is provided.
3) It becomes possible to concentrate the use of limited resources in the most profitable areas.
Today, there is also a segmentation of the investment market. The investment market consists of several types, offering real financing for various objects. These include the privatized property market, direct investment and the real estate market.
The main segment is the capital investment market , while investments are invested in the reconstruction or construction, technical re-equipment of the enterprise.
The market for privatized objects is an enterprise that is auctioned or fully redeemed by the collective of the enterprise or by third-party investors.
The real estate investment market is an independent element of the investment market. It represents a market for a wide variety of real estate, an investment in which will be most appropriate.
Of great importance is the segmentation of the banking services market . Usually in this case, segments of the investment finance market are divided into the following categories: income level, geographical location, balance sheets of various financial institutions. Segmentation is carried out in order to find out where:
- the bank will be able to occupy the largest market share by increasing the capacity of the growing market, or improve the promotion of its own services than another bank will;
- the bank will be able to offer new services and check the reaction of this part of the market, with its subsequent promotion in the presence of positive feedback;
The collection of market information is justified by the following objectives: identifying, forecasting and analyzing market factors that have the ability to influence the bank in different ways in the period under review.
The ultimate goal of market segmentation is to increase the effectiveness of advertising methods and means, increase competitiveness, regulate prices, optimize costs and develop a marketing strategy that will focus on maximum customer satisfaction.