THE IMPACT OF SEGMENTATION ON CUSTOMER SATISFACTION
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ABSTRACT
Basically, NBC moffers different product to customers which in one way or the other leads to the satisfaction of the desires of the customers.
Some objectives of this study are;
· To find out the role of segmentation in the marketing of NBC Plc products.
· To find out if market segmentation of NBC Plc leads to increase customers patronage.
Based on the above objectives, the researchers used primary and secondary data. Secondary data are collected from already done work like textbooks, dictionary, magazine etc. the sample size for the consumer was derives using borhey’s formular while census was used for relevant staff and enhancement. The data collected when analyzed using tables, frequencies and percentages. The analyzed data gave the following finding that market segmentation practice of NBC Plc leads to increased patronage of their products. Market segmentation practice of NBC Plc leads to increase in profit of the organization.
The researchers came up with the following recommendations.
· NBC should stick to segmentation of their products because it increase their profit.
· NBC PLc is advised to practice marketing segmentation because it reduces cost of operations.
The researcher concludes that market segmentation not only help in serving the customers better but also increase the profit of the organization.
CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
In this modern and dynamic world, marketers look at the overall market as a body consisting of many smaller parts whose elements have some common characteristics. They are mostly district from the entire market. For marketers entering a market, the total market must be divided into segment or division being similar character of wants and need or behaviours. This therefore, results to designing its own program, which will be developed for its best satisfaction. Adirika, Ebuen Nnohu (1997:40) noted that most marketers are two large for an organization market. According to Edoga and Ani (200:18) market segmentation is defined as the process of dividing the total market into several relatively homogenous groups with similar product interest. This process according to them requires marketers to identify factors that effect purchasing decision so that consumer can be grouped accordingly. Adirika, Ebue and Nnohm (1997:30) sees marketing segmentation as the subdividing of a heterogeneous market into homogenous subset, groups of customers so that each subset can conceivably be selected as a separate market target to be reach with a district marketing mix. They further noted that in practicing segmentation and consequently target marketing, organization endeavour to serve target markets that they are able to satisfy efficiently and effectively, and not just any group of buyers that seems to represent a sizeable market. These includes the marketing of drinks. Adirika (1992,2.9) believes that the battles for the heart, mind and pocket book of the customers will be won by a block by block store by purchase, by purchases bases. This strategy is based on the premise that customers have different test which change over time and that these customers and variety.
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