Different authors have discussed marketing as a concept that is built on various attributes such as segmentation. In this discussion, two videos on Market Segmentation were analyzed. The first video is titled ‘Market Segmentation Introduction’ while the second one is titled ‘Market Segmentation ‘. We can only hear the voice of Karlsson (2012) who authored the video ‘Market Segmentation Introduction’.
The video, Market Segmentation is first introduced in a general way before commencing a detailed discussion on the four pillars of the marketing concept. Karlsson (2012) provides the general definition of a market as that which consists of actual and potential buyers of different products designed specifically for the target market. Market Segmentation is generally defined using demographic, geographic, psychographic, and behavioral attributes. According to Karlsson (2012), each attribute has subcategories that detail how to implement segmentation. Besides, the video shows that companies that adopt the concept make gains such as effective use of resources, focused expenditure, and high profits because the company can provide the right products for the right market segment.
The second video, which is titled ‘Market Segmentation ’, introduces the topic by noting that the concept is valuable for creating new target markets and for effective strategy formulation (Market Segmentation, 2012). Here, the video focuses on Market Segmentation as a tool that companies use to identify the right market for their products and design market penetration and positioning strategies using the market characteristics of customer demographics, behavior, psychographics, and geographic factors. The video uses pictures sparingly because a significant portion of the video uses text and voice data to explore the topic.
The key differences between the videos are that each discourse approaches the topic differently but tackles each element with the results being the same. Market Segmentation in the first video is seen as a company’s market positioning tool for its products and services. However, the video on ‘Market Segmentation Introduction’ precisely discusses the commonly used success factors a company is likely to use when investing in the market. The assessment criterion includes the use of elements such as substantial, differentiable, measurable, and accessible concepts. On the other hand, the ‘Market Segmentation’ video misses out on the key success indicators that should be used to determine the suitability of using different strategies to segment the market.
In my evaluation, the video ‘Market Segmentation Introduction’ provides the most valid truths about the topic compared with the video ‘Market Segmentation ’. I think so because it has the details that can be used by an organization to determine the key approaches to segmenting the target market and the benefits the company is likely to get from using the concept.
The ‘Market Segmentation ’video misses some key elements by failing to explain the attributes of differentiated and undifferentiated markets and how to create target markets in such environments. Besides, key concepts such as adopter categories for new products, product usage, purchasing approach, atomization, and promotional strategies are also missing.
My opinion about the best video’s ability to positively “position” the topic is that it has dwelt on the marketing concept of segmentation with detailed emphasis on all aspects critical to the marketing environment have been discussed. However, the general tools of Market Segmentation such as demographics, behavior, psychographics, and geographic attributes are dealt with in detail.
References
Karlsson, L. (2012). Market Segmentation Introduction. Web.
Market Segmentation: Alanis Business Academy. (2012). Web.