Market Segmentation

You are Senior Marketing Exec of a local company which deals in skin care products.You have proposed that the company produce a line of consumer skin care (sunscreen) products under the brand name "MATAHARI 00".You are required to discuss the matter of market segmentation of that proposed product at a meeting of the Board of Directors.If they are satisfied with you explanation as to the potential of the product,you stand a chance of being appointed as Marketing Manager.

Question 1

As some of the directors have no idea of marketing concepts,you are required to do the following:

a) Explicitly discuss the meaning of market segmentation and the rationate underlying its use.

b) Generally,identify and discuss,with clear illustration,the variables that are important for market segmentation.Place these varibles in a proper framework useful for categorical purposes.