Value of Segmenting, Targeting and Positioning from a companys Essay

Value of Segmenting, Targeting and Positioning from a companys perspective - Essay Example All these steps are highly dependent on each other. Segmenting, targeting and positioning commonly called STP means establishing relationships with the right customers. Usually companies do this process in order to select the most suitable segment of the market in which they can perform their best. Another author has described these STP activities as the tool of communicating the personalized message to the relevant customers or the audience (Hanlon 2013). Segmenting means the process of dividing the whole potential market into certain divisions and segments on the basis of their needs, nature, purchasing power and many other characteristics. At first the market is divided and then every segment’s profile is made on the basis of their characteristics. There are a variety of factors which can be used as a segmentation base. These factors may include geographical base, demographics, psychographic and behavioral factors. Lifestyles, social classes and differences in personalities are certain other sub-factors which are important for the market researchers. Due to advancement in marketing techniques the segmentation bases has also been modified now (McAllister 2013). The homogeneity of the market segments makes it easy for the companies to generalize their research for the whole population of the segment (Rudra 2014). According to another author the 5Ws model clarify the process of segmentation i.e. Who, What, When, Where and Why. These all queries regarding customer will differentiate market segments (Richard 2013). Targeting means the process of identifying a segment which can be served easily. After segmenting definitely a company must not start to serve all the segments rather it would select those which seem to be attractive to be served. It is important here that the selection of target segment is only based on its attractiveness and potential customers. A target market or the segment is usually classified as the set of potential

The Organizational Structure, Work Culture and Global Business Essay

The Organizational Structure, Work Culture and Global Business Strategies of Google Inc - Essay Example The study is based on the discussion of different management issues faced by Google Inc. in the China market. It will illustrate various challenges faced by the organization to properly run their operation as per the social and ethical norms of China. The main objective of any management is to achieve the ultimate goal of the organization by motivating and directing the workforce. The modern management practices influence managers to focus on different requirements of the stakeholders of various countries. There are a number of management issues faced by global organizations such as economic, political, social and technological. Recession, inflation and currency fluctuation of different countries can provide the significant effect on the business management procedure of global organizations. The difference in the political rules and regulations also affect the decision-making capacity of the managers. Management needs to cope up with the rapid development of technologies in the diffe rent market to attract more customers. International organizations need to focus on the differences in the social structure of their operating countries before introducing any product or services. The decision of product or services design can differ as per locations due to the changing preferences of local people Customized products of local organizations can provide huge competition to the standardized products of the global organizations.