Market segmentation in a publishing market

Abstract

In today's competitive business world, it is not possible to sell everything to everyone. There are different types of customers, each with different needs and wants, tastes and preferences, different purchasing power and so on. Market segmentation refers to subdividing a larger market into smaller markets. In all publishing markets, different groups of customers have different needs. The Publishing market for any product can be split into -individual segments, comprising clusters of users and customers who have similar requirements, characteristics and tastes. In a well-defined Publishing market segment, customers can be viewed as having a similar response to the Publishing marketing mix (Product characteristics, Promotional approach, Pricing strategy and Place of purchase.