英语论文网

up with something more complimentary and hence identification of competition is completed.

Marketing strategies have always been a factor which explains the functions of market segmentations. These strategies clearly explains about the set of people to be specifically targeted and those who require attention as well exclude the group of market that doesn’t require to be looked after so that there is no wastage of time and resources. Not only the market but it gives a view in brief about the requirement of people at that specific point of time. It analyses the needs and wants of the current market and as well it gives a hint over the preference of the market

As we know that it is nearly impossible to predict the market as well as future of the company. If the market strategies are well planned it could be a help in understanding the dynamic nature of the market to some extent. It is not only a measure for market segmentation but as well is a factor seen as used for mitigating and avoiding the prevailing factors which could incur a loss to the company. There are always a set of alternative strategies kept prepared as a last resort in case there is a change in technology, product and services, taste of consumer or competitors strategies.

Talking about identifying the customers, marketing strategies also highlights the competitive advantage a company is having on the basis of which it could differentiate the areas where they have edge over competitors and it as well is a source to identify strengths where they can enjoy the monopoly. These areas could be Corporate/Brand Image, product and service superiority and distribution network and if the marketing strategies of the firm are well designed and defined, it is helpful in generating a corporate image of the firm.

It is also helpful in facilitating few of the organisation activities such as Organizing, directing, Staffing as well as short term planning. If a car manufacturer is going to produce an 8 seater family car affordable for middle class they will accordingly manage their staff, organize their working and carry out the production.

Every market have a different approach to target their customers. It’s either through introducing your customers with something new to look upon which could be either a product or a service. These new set of introduction are a version and depiction of what the market demands and market wants which have been prepared accordingly to the demand pattern of the market.

Example: To gain the trust of people of India and on other hand securing their brand the food giants in India have forfeited the use of pork and beef in their servings which are attracting a good amount of abroad such as Burger King is established for its beef burgers but coming to India they have replaced it with chicken. (ICMR, 2010)

The second method is through the sources inside market or it could be through updating the currently marketing holder strategies which a have bought the business on the door on the 1st place.

Example: The popularity gaining products such as KFC;s Zingers and Crushers, Dominos’ pizzas these both have gained and kept hold on a significant amount of customers so to keep a hold on to their selected market they updated their product or included it in a money gatherer meal. Likely to hold on to the interest, Fast Food Ventures are concentrating on genera