Market Segmentation (With Real World Examples) | From A Business Professor

As we know, Different auto manufacturers target significantly different groups of customers. For example, Toyota normally targets people with middle-range incomes who are looking for vehicles with good value for money. When thinking about Toyota, people think of durability, quality, safety, and reliability. In contrast, Mercedes Benz always targets to upper-class drivers who think of luxury, style, and social class. Mercedes Benz is a brand that evokes images of luxury, wealth, and success. For many people, owning a Mercedes is a status symbol, it is a way to show the world that they’ve made it. Market segmentation can help companies to target just the people most likely to become satisfied customers of their products or services. So what is market segmentation and How to implement it? what are its major types, examples, benefits, and limitations? In this video, I will discuss these questions with you.