Microsoft, Tesco, Google.com Market Segments Essay - 13

Microsoft, Tesco, Google.com Market Segments - Essay Example According to the study market segments in terms of promotion ergo become imperative. Market segmentation basically refers to specialising and specifically focusing on one kinds of consumers. Segments can be based on a variety of factors some of which include gender, geography, industry, age groups; or they can be a little bit more specific e.g. democrats in the USA or soccer fans etc. As the paper outlines by concentrating on one particular part of the market the producers are not just able to market their product better, they can even improvise and enhance their goods in a way which makes them the most appealing for their customers. Geoffery Yeo further defines market segments as, â€Å"Market segmentation is a technique widely used in he market research industry. It can be defined as ‘the process of splitting customers into different groups, or segments; within which customers with similar characteristics have similar needs†. How does one segment the market for food? E veryone needs food, however, if that was the only thing that crossed a producers mind then he would end up with a burden of a segment which consists of not just people from the UK, but the whole world. Focusing on what kind of food one is selling is extremely important, in our case we will be focusing on fast-food. Segments for this market will be created based on a number of factors: they can either be demographic or psychographic. Demographic factors take into account the age, sex, gender, income etc of the consumers, where as the psychographic factors look into what attracts and appeals to consumers the most. For a fast-food organisation to function properly in the UK it would have to focus primarily on psychographic factors.