Marketing in action Essay Example | Topics and Well Written Essays - 1500 words

Marketing in action - Essay Example This is a medium sized care that fits within the requirement of the paper (Smith, Berry, & Pulford 2002). The BMW 3 series model is simply an economy model and very efficient and doing well in the market. This car is approximately 4, 5 meter long and is reported to cost 26,000 dollars and subsequently offers space for five adults. The competitors of BMW 3 series include Audi A4, Opel Vectra, Mercedes Benz C Class, Mazda 6, Volkswagen Passat, and Ford Mondeo (Kotler 1994). The basic reasons that necessitate the division of the market into very small segments include easier marketing. This simply indicates the fact that it is easier to address the various needs of the smaller groups of consumers, specifically if they have several characteristics that are common. Further, it helps in finding the niches which simply means that when the un-served or under-served markets are recognized. Segmentation can make it possible for a new product or company to target a market that is less congested or that which has new consumers (Smith, Berry, & Pulford 2002). Finally, it also helps a company be efficient which simply means efficient use of the marketing resources through focusing on some of the best segments for the offering such as promotion, product, place, and price. Segmentation, targeting and positioning can therefore ensure that the company does not send its messages or products to the wrong individuals (David 2001). Separation of the market simply starts with defining of the entire market. After division of the market into different segments, a particular segment that is seen as profitable should be selected. The very last two steps are reported to be the product positioning within the market and consequently adjusting the proper market mix. Kotler states that four criteria are significant in segmenting a market and include geographical, demographic, psycho graphical, and behavior criteria. Positioning on the