Market segmentation

Describe how businesses approach segmentation in market. Why market segmentation could help businesses to achieve the goals of their strategies? What approaches can be used to segment the market? How can this lead to competitive advantage?

Sample Answer

Market segmentation is the activity of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics. There are four types of market segmentation and they include demographic segmentation, psychographic segmentation and behavioral segmentation. Market segmentation is good because it enhances profits for business, retain more customers, targets marketing communication and facilitates more opportunities for growth.

"Health" is by all accounts clear. In any case, each word has a history and subtleties in definition, and "wellbeing" is no special case. Wellbeing can be spoken about as far as science, prosperity, and individual fulfillment. In the accompanying passages, we will investigate the historical underpinnings of "wellbeing" and how the word identifies with different orders.

There are two speculations of the movement of this word. Right off the bat, it is felt that "wellbeing" as a term gets from the Proto-Germanic word "haliþaz," man or saint. Afterward, with Old English, the word changed into "hæleþ," with the importance of man, saint, or warrior. At last, in Middle English, the word became "haleth," which has a similar definition as in Old English. As per another type of historical underpinnings for "wellbeing," the word originated from the Proto-Germanic term "haliaz," which is characterized as entire or solidness. This moved toward the West Proto-Germanic language as "hailiþō," "hǣlþ" in Old English, and "healthe" in Middle English—all with a similar significance. As per the primary hypothesis, "wellbeing" is "Related with West Frisian held ("legend"), Dutch held ("saint"), German Held ("saint"), Danish helt ("legend"), Swedish hjälte ("legend"), Norwegian hold ("legend") (Wiktionary). As should be obvious, the movement of "wellbeing" is somewhat obfuscated, and not actually straight in significance.

In any case, in current English, it is comprehended to be a mass thing alluding to "The condition of being liberated from sickness or damage," allegorically as "An individual's psychological or physical condition," and as a maxim, with it being "Utilized to express well disposed emotions towards one's sidekicks before drinking" (Oxford Dictionaries). This is a long way from the definitions and the settings it was utilized in some of etymological speculations of its Proto-Germanic, Old English, and Middle English beginnings.

Despite the fact that these are standard meanings of "wellbeing," the word additionally corresponds to numerous devotees. For example, The World Health Organization in 1948 suggested that wellbeing identifies with "physical, mental, and social prosperity, and not only the nonappearance of infection and illness" (World Health Organization). In any case, later the Organization reexamined its definition as, "The degree to which an individual or gathering can understand goals and fulfill needs and to change or adapt to nature. Wellbeing is an asset for regular day to day existence, not the target of living; it is a constructive idea, underlining social and individual assets, just as physical limits" (WHO Regional Office for Europe). It is effectively seen that this significant Organization changed its definition to an increasingly comprehensive articulation as time went on.

According to brain science, which concentrates more on emotional well-being (which likewise collaborates with our physical framework), "wellbeing" is noticeable. As per Psych Central, "Psychological well-being and health is the state at which one feels, thinks, and acts. Psychological wellness can be seen on a continuum, beginning with a person who is intellectually well and liberated from any impedance in their day by day life, while another person may have mellow concerns and trouble, and another might have an extreme dysfunctional behavior. Psychological well-being is similarly as fundamental as physical wellbeing" (Psych Central). As you would have seen, emotional wellness isn't so high contrast. It is hard to decide the specific rational soundness or madness of an individual; be that as it may, we can make speculations regarding how an individual stands as far as psychological well-being.

"Wellbeing" is a genuinely old word, getting from the Proto-Germanic language, which proceeded in Old English and in Middle English. There are two adaptations of its historical background, yet at present there is typically one summed up meaning of the word by the World Health Organization. Wellbeing includes physical, mental, and social prosperity.

References

"Wellbeing." Wiktionary, en.wiktionary.org/wiki/wellbeing.

"Wellbeing | Definition of Health in English by Oxford Dictionaries." Oxford Dictionaries | English, Oxford Dictionaries, en.oxforddictionaries.com/definition/wellbeing.

World Health Organization (1958). The initial ten years of the World Health Organization. Geneva: WHO.

World Health Organization. Territorial Office for Europe (1984). Wellbeing advancement : a talk record on the idea and standards : rundown report of the Working Group on Concept and Principles of Health Promotion, Copenhagen, 9–13 July 1984(ICP/HSR 602(m01)5 p). Copenhagen: WHO Regional Office for Europe.

"What Mental Health Means to Me." Psych Central, 10 May 2013, psychcentral.com/blog/what-emotional wellness intends to-me/.