Marketers segment markets for three important reasons. First, segmentation enables marketers to identify groups of customers with similar needs and to analyze the characteristics and buying behaviors of these groups. Second, segmentation provides marketers with information to help them design marketing mixes specifically matched with characteristics and desires of one or more segments. Third, segmentation is consistent with the marketing concept of satisfying customer wants and needs while meeting the organization's objectives.
Introducing new products is important to expand growth, increase profits, and attract new and potential consumers. Shea Moisture understands the importance of they decided to expand their business platform. The company went from just selling soap and selling hair styling products to now hair treatments, body wash, aftershave, cosmetics, and more. The introduction of new product lines have not been previously offered allow it enter a new done of segments. This helps companies like Shea Moisture to double the increase of profits. Since Shea Moisture does sell beauty products, it may be a little harder to create things that are sold by thousands of different companies. This is why as a company they stay true to their vision of making natural, cruelty-free beauty products.
No comments:
Post a Comment