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Managerial Support Systems - Assignment Example

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For example people in Alaska have a need for winter clothes most of the year, while consumers living in the Caribbean islands have no need for winter clothes because the…
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Managerial Support Systems
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A way to segment is to separate them based on the different needs to the consumer groups. For example people in Alaska have a need for winter clothes most of the year, while consumers living in the Caribbean islands have no need for winter clothes because the temperature is hot the entire year. Consumer can also be segmented based on certain variables or characteristics. Marketers sometimes segments their customers based on age bands groups. The example illustrated in Appendix A shows consumer segmentation by age. “Consumer segmentation is the process of classifying people into groups that have some set of characteristics, resulting in the ability to be studied and targeted” (Xtremeimpark, 2009). Multinational corporations utilize consumer segmentation to determine the demand of its products by dividing consumer markets by geographical location. One of the reasons for geographical segmentation is because people from different cultures have different purchasing behaviors. McDonalds is the largest fast food chain in the world. Its hamburgers are a product that sells well in most parts of the world. Despite this fact the company has found it hard to penetrate the India marketplace because the majority of its population visualizes the cow as a sacred animal. Another variable that is often used for consumer segmentation is income. Marketplaces with populations that have higher income are attractive due to the fact that higher income means the customers have greater purchasing power.
Appendix A: Consumer segmentation profiling by age
18 to 25 years
25 to 35 years
36to 55 years
56 to 75 years
75 to 100 years

References
Extremeimpark.com (2009). Consumer Segmentation. Retrieved December 12, 2009 from http://www.xtremeimpakt.com/index/capabilities/strategic-services/consumer-segmentation Read More
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