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Market Segmentation

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Market Segmentation

Introduction

In the current global business environment to the small and medium sized business entities have =been able to become a significant part of the holistic business activity. The primary reason for the enhanced role of the small businesses in the context of the global economic platform can be attributed to the forces of globalization and the advanced technologies. In the traditional perspective the majority of the business activities were generally predominated by a certain limited number of larger business entities.

These companies had access to eth economic and the infrastructural resources to be able to control and influence the business environment. However the process of globalization drastically changed this environmental and focusing the business sector shifted from the product based activities to the branding initiatives the factor of success shifted from the traditional perspective of resources and infrastructure to creativity and brand value (Wedel, 2000, pp. 112). This situation gave the smaller business the chance to compete in the global consumer market and be able to attain substantial amount of entrepreneurial success. Hence the entrepreneurship roles which were generally preserved in the developed country environments now were shifted throughout the global business environment, due to eth process of globalization.

Literature Review

There are several factors that the small businesses have to consider before they can adequately compete in the global business environment and attain a positive revenue stream. Due to the level of competition and the volatile of the consumer market it is imperative for the entrepreneur to conduct a critical environmental analysis of the business environment before investing in the business infrastructure. This will enable the business to attain an idea of the demand of the global; consumer market and third strategic advantages over the rest of the competition. Hence they would be better prepared to cope with the challenges and the delays of the vast global business sector and attain the information and resources to be able to succeed in this environment. The concept of market segmentation is absolutely critical for the success and the future aspiration of any small or entrepreneurial business venture, as it would allow the company to be more focused and efficient with the usage of its limited organizational resources. Unlike the larger organizations the small and entrepreneurial organizations do not have access to substantial amount of funds hence they require to attain maximum amount of efficiency in the organizational operations and policies.

Benefits of Market Segmentation: Entrepreneurial Perspective

The dynamic of the small business entity have changed drastically in the context of the current business environment as this sector now has become a significant part of the global business environment. The entrepreneur hence has to be more systemized and efficient in the terms of managing the business entity and strategizing the policies of the organization. The process of globalization has caused the smaller businesses to be presenting highly volatile and competitive business environment in which h the consumers are highly empowered. Due to eth massive level of alternate ...