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Introduction to the Special Issue on Market Segmentation

Intern. J. of Research in Marketing 19 (2002) 181–183

3 Pages Posted: 14 Feb 2014  

Michel Wedel

University of Maryland - Robert H. Smith School of Business, Marketing Department; University of Groningen - Faculty of Economics and Business

Wagner A. Kamakura

Rice University

Date Written: 2002

Abstract

In market segmentation, one distinguishes homogeneous groups of customers who can be targeted in the same manner because they have similar needs and preferences. In 1956, Smith defined: "Market segmentation involves viewing a heterogeneous market as a number of smaller homogeneous markets, in response to differing preferences, attributable to the desires of customers for more precise satisfactions of their varying wants." This being an accurate definition to date, one of its most appealing aspects is that it presents segmentation as a conceptual model of the way a manager wishes to view a market. Even if it is a powerful concept, it is still an empirical question as to how well it describes the situation for a particular product or service to provide input to managerial decisions; there are alternatives to segmentation, in particular one-to-one marketing in one extreme and mass marketing in the other.

Suggested Citation

Wedel, Michel and Kamakura, Wagner A., Introduction to the Special Issue on Market Segmentation (2002). Intern. J. of Research in Marketing 19 (2002) 181–183. Available at SSRN: https://ssrn.com/abstract=2395277

Michel Wedel (Contact Author)

University of Maryland - Robert H. Smith School of Business, Marketing Department ( email )

College Park, MD 20742
United States
301.405.2162 (Phone)
301.405.0146 (Fax)

HOME PAGE: http://www.rhsmith.umd.edu/marketing/faculty/wedel.html

University of Groningen - Faculty of Economics and Business ( email )

Postbus 72
9700 AB Groningen
Netherlands

Wagner A. Kamakura

Rice University ( email )

6100 South Main Street
P.O. Box 1892
Houston, TX 77005-1892
United States
(713) 348-6307 (Phone)

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