Market Segmentation: Its Role in Sales Performance in Nigeria Business Environment

Abstract

Market segmentation is considered as inseparable as well as the key tool in the Practice of Marketing. It is the breakdown of the entire market for effective coverage for a product/service into several specific segments, where each segment comprises of customers with specific features in common. The reason behind Market segmentation is that no one approach to the market can satisfy the numerous buyers, each part of the market represent a unique opportunity. This is as a result of the dissatisfaction with the strategy of product differentiation, marketing researchers and practitioners have come to rely more on the strategy of market segmentation because of its role in sales performance in Nigeria Business environment. For the purpose of this write up, the paper will take the following shape – Introduction, firms, customers and environment, when to segment market, level of market segmentation, strategies, effective conditions, benefits, conclusion and recommendations.

Keywords: Market, Segmentation, Sales, Performance, Business, Environment and Nigeria