Marketing Segmentation, is basically defined as different things to different people. Marketing Segmentation is a strategy that has been around since 1960 where a company tries to reach a certain subgroup of people.  For instance companies configure their store make up to cater to certain subgroup of people. Several different concepts can range from a fully segmented market to a market targeting gender, age groups or both and some that target race and income.  Like its discussed in the book where Wal-mart caters to Suburban/affluent; urban;multicultural; Hispanic (using bilingual language on signs); baby boomers. Wal-mart has touched on just about every major segment and has put them at the top .  The market is a large word that expands over everything, from the market of brand toothpaste to type of food you like to eat and clothes you like to where.  Market is defined as People or organizations with needs or wants and with the ability and willingness to buy.  Sometimes you hear people say I’m in the market to buy…., and they go shopping. The importance of Marketing Segmentation is to be more precise to the needs of the surrounding consumers to have accurate marketing objectives, improved resource allocation and in return you will get better marketing results.

What is effective strategic planning? It’s having a creative mind that is consistently focused on marketing ideas.  When you have a company and you are always trying to stay ahead of the game.  You will always have to do some type of surveys, Pop-up-Shops to find out what the consumer needs.  Especially in this economy times are changing and you need to be thinking in advance.  Creativity is so important thinking of an item or on demand activity that can be enjoyed by the consumer at no cost to them for example Whataburger’s allow you to have free wi-fi while they dine.  This was a great idea now you can google, shop, check emails right from your cell phone.  Also effective strategy is customer satisfaction, that is where the surveys come in you know when you go to a Target, Wal-mart etc. you get this long receipt and at the end all you see is a plea to go there web site and do there survey, and if you do you will have a chance to win a prize.  This is where the marketing group can get an idea of what the consumer is buying these days what they are missing and quality of service that they received.  With all that said none of this will happen if you do not have the commitment from the Management.  This really should be first because if you don’t have approval none of this could happen and the company will fade.  Being able to do all of these effectively can determine the future of a business.

New Developments in Retailing, its been going on for a while where you have large companies that specialize in a high end product and feel like they want to expand into a lower middle class consumer market they start up a new store chain but it is selling the same product but at a lower cost and add a spin to it like Cusp which is a store designed for middle class ladies who like boutiques and good deals.  This is done buy all large manufacturers as well like General Mill Products, Mrs Bairds Bread, etc.  This is what is considered Interactivity which is one of the most popular strategies along with M-Commerce.  Mobile Commerce is where you can connect on the web and shop using a credit card, RFID devices and even your hotel key.  Major companies are heavy M-commerce users, which is the best way to go now since just about everyone has a cell phone it is the best way to Market your product.  Another retailing strategy is Pop-Up-Shops which would be good for small business owners to test the waters for a new marketing concept, just like the larger companies do around the holidays this way you reach more people similar to Store-In-A-Store, Pop-up-shops are temporary and seasonal.  A Store-In-A-Store is different most of the time you see those in stores like Neiman Marcus if you have ever been to a Neiman Marcus store once you walk in you see areas with store fronts like Chanel, Louis Vuitton, Prada, etc. this is where other major name brands set up shop and you can purchase there product, and a lot of times the department store will pay to accommodate that product this is not just done in high end stores its done everywhere.

The philosophies of Marketing Management consist of four components Production, Sales, Market and Societal Marketing Orientation.  First you have the Production orientation which is the Idea that the company has to come up with some great product that the consumer will buy off the shelf.  In my opinion companies would be better off if they catered to the consumer, look at Wal-mart they don’t try to invent or bring something new to the table, they are a distributor they have any thing you want for a reasonable price.  Second you have Sales Orientation which is believed that aggressive sales techniques results in high sales.  In some cases it is if you are selling magazines door to door.  But ultimately I feel that non pressured selling it better I don’t like to pressured into anything, think about weigh my options, once again look at Wal-Mart there is no pressure I like that.  Next is Market concept states that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives.  This is great that is what marketing is to me cater to me and you will profit.  So many companies right now still have these expensive prices on there product, Why? the economyis a mess.   The fourth component of Marketing Management is Societal Marketing orientation which is extending that the product that customers want may not be in there best interest for the whole society.  You mostly hear this more now than ever is “Going Green” it is like a business everyone is trying to save the World a water bottle at a time.  But as it mentions in the chapter that not every company can Go Green because the containers can not be recycled so they use other ways of advertising there product or name with with very popular charities like Breast Cancer, SPCA, Feed the Children, etc., this way they can still stay in the game.  Ultimately all four of the components are valuable to the Marketing Management of a company.

Hi! my name is Daina B. was born in Denton Texas a while back.  I have been married for 16 years to my husband Richard we have two children one is 10 years old her name is Richelle and my oldest which is 19 years old her name is Tylah is currently attending the University of New Orleans on a basketball scholarship.  I have been attending Northwood University since June 2007 and I have four more classes to be eligible for my Associates in Management Information Systems.  Marketing is one of those classes and I hope to at least gain a good understanding of the Marketing base.

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