The Impact of Market Segmentation on the Sales Volume of a Company’s Product or Service

Abstract

The study investigated the impact of market on the sales volume of a company products or services. Market Segmentation is essential and necessary for any organization trying to survive in the global market. Consumer demands are diverse and all demands have to be met as effectively as possible. Therefore organizations that sell a product or service has to know who their various target markets and segment their product in a way that suits each segment identified. This study looks at the segmentation process and how segmentation can be effectively utilized to improve the sales volume of an organizations goods or services.  Both primary and secondary sources of data collection were used and analyzed by trend analysis. The research revealed that once products or services were tailored to suit various types of consumer segments, then requirements will be me; thus satisfaction, therefore increasing the level of demand of that product or service.  The research concludes that effective consumer segmentation can increase the level of demand of a product or service, of an organization. It has also been recommended that profit making organization should always work around segmenting customers of their product or service if they want to increase sales in their organization.

Keywords: Market Segmentation, Sales Volume, Product, and Services