Market Segmentation and Muslim Loyalty Assignment

Market Segmentation and Muslim Loyalty - Assignment ExampleThe purpose of this literature review is to check up on published literature on general marketplace breakdown theory, the impact of that segmentation practice upon loyalty and customer satisfaction within various constituencies, the finishing of those principles specifically to the Muslim community, as well as frame a research inquiry to test the theory of the segmentation approach to the Muslim market within a specific retail setting.Within any market, there atomic number 18 many different constituencies with commonalities in product convey and these varied customers back tooth be divided or segmented into groups which may share a similar need for any token product. As Claycamp and Massy point out, markets and the customers who make up those markets are not homogeneous (1968, p. 34), and any company utilizing a successful business model will need to group those customers according to their similarities so that produc ts stooge be tailored to meet demand. As early as the middle of the 20th century, the idea of dividing a market into groups of customers who share a similar need or desire for a particular product, i.e., segmentation, was advanced (Smith, 1956, pp. 3-8). The principle of segmentation is relatively straightforward by successfully targeting a specific consumer group with particular needs, the company can focus its product development and promotional strategies into meeting those needs and gain a competitive edge (Abell, 1980, p. 8). While there are those who see an overemphasis on segmentation as ironic and leading...in a direction that is opposite of what is really needed to build brand loyalty (Anshuetz, 1997, p. 65), the vast absolute majority of scholars would concur with Swenson that market segmentation experts are carefully regarded in the corporate world and that the continued segmentation of markets can certainly be expected to touch off business forward well into the twent y-first century (1990, p. xiii). It should be noted that product differentiation is an important aspect of gaining market share and, because market segmentation should be employ to increase the market share of a product within those segments as well, product differentiation and market segmentation should be used together (Greco, et al., 2003, p. 210). While these principles are true within domestic markets, they are particularly applicable to those companies engaged in international retail business.As forge notes, prior to the mid-1970s, market segmentation was viewed primarily as a domestic strategy (2004, p. 40) and there was little scholarship with regard to international marketing theory. In 1972, however, Wind and Douglas recognized the nature as well as direction of global business and argued that segmentation was not just for domestic sales, but cogency be even more important in international markets due to the fact that they are more diverse (1972, pp. 17-25). As will be demonstrate in subsequent sections, the segmentation of the Muslim market by international companies, particularly those in the retail grocery industry, is critical. In Crafts study, it was noted that the organizations under