class discussion questions 3
What role, if any, does the Internet play in market segmentation strategy? Provide at least one specific example and briefly discuss
Text book:
David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach, concepts and cases (16th ed.) [VitalSource Bookshelf version]. Boston, MA: Pearson. Retrieved from https://online.vitalsource.com/#/books/97801341679…
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Please respond to my classmate response below:
According to numerous studies, Market segmentation has been labeled the most significant and prominent area of marketing. It is considered by businessmen to be an excellent strategy of identifying and categorizing similar potential clients who have common needs. The inception of the internet in the early ’90s led businesses to utilize the platform in dividing their consumers according to their various needs. For that reason, one of the significant roles the internet has played in market segmentation is personalization. Some scholars have mentioned that personalization has become one of the biggest and fastest trends that most business companies are adopting in these recent times. Brands have embraced this trend because it allows them to provide the needs of customers more comfortable and faster. Besides, personalization is a strategic form of giving customer satisfaction through real-time interactions with clients. An excellent example of a company that has used personalization using the internet is Amazon. It has satisfactorily categorized its products for individuals from different demographics who have the same needs.
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