See attachment Essay Example | Topics and Well Written Essays - 1500 words

See attachment - Essay Example Despite the numerous benefits derived from market segmentation, there tends to be various challenges, as well as barriers, which the use of market segmentation may pose. In the case of innovations, there tends to be several ways in which the organisation can overcome the problem of segmentation and customer focus (Dibb, 2005, p. 13). One of the problems that segmentation poses includes the identification of the market segments, which can be regarded as the most significant. The organisation is also faced with the challenge of identifying the strategies that can help in marketing the product, the desire to fulfil all the customer needs for customers who may not be within the market segment, as well as realizing changes that may take place within the market segment. In order to overcome this problem, the organisation should ensure that the market segment that it chooses can be reachable, easy to identify, as well as unique. This will ensure that Innovations categorises its customers ea sily, and it will know the markets that it should target (Cherneko 2011, p. 3). For Innovations, segmentation would also pose the problem of knowing how the organisation can reach the market segment, which it has chosen to target. Innovations may find segmentation a challenge with regard to this problem, especially if the organisation uses categories that deal with lifestyle patterns in choosing the market segments. ... ations should also come to the realisation of the dynamic nature of their markets, and ensure that come up with new strategies, which will be in line with the changes (Hunt & Arnett 2004, p. 8). Another way in which Innovations can overcome the problem of market segmentation and customer focus is through coming up with few market segments. The organisation should introduce few segments that can be easily managed and understood. This will ensure that there is no confusion in the market since the organisation will know its segments better. Innovations can also overcome the problem of market segmentation and customer focus by conducting thorough research (Hunt & Arnett 2004, p. 9). Research is essential as it would allow the organisation to know which market segments it should target. Market research will ensure that there is no misallocation of resources and staff needed to market the products. Market research also equips the organisation with the necessary information regarding the ma rket segments where the products would make high sales, as well as the segments that need certain products (Dibb, 2005, p. 17). The other strategy that Innovations can use in order to overcome the problem of segmentation and customer focus is through introducing regular changes to the market segments. Innovations should aim at defining the segments regularly in order to ensure consistency, as well as relevance of the segmentation strategies. The products should be tailored and developed to coincide with the needs of customers in the market segments (Weinstein 2006, p. 115). Innovations should also be aware of the emerging trends in the market and ensure that the market segments remain relevant to the new trends. Market segments have to be updated to avoid challenges that may result from