SEGMENTATION BASED MARKET RESEARCH ANALYSIS OF MEASURING INSTRUMENTS
Dr. Palaniraj. K
Consultant, WINGS Technology, Tiruvannamalai, Tamil Nadu, India
ABSTRACT: Segmentation based market research makes the marketer to simplify the marketing research problem, to identify the requirement of the products in market and the difference in requirement based on various factors. It makes the organizations easier to predict the market needs, and to make profit. Different types of machine learning and artificial intelligence approaches are used nowadays for the market segmentation. There are different methods available to segment the market and based on different factors. Some basic level of segmentation makes the market to divide into four segments, and there are further developments in the standard types in market segments into more number of types. In this journal, market segmentation of measuring instruments is presented with four basic types of segments namely, location, price, product and the type of customer. The results obtained are evaluated and presented in the graphical format. Suggestions were given based on the results to improve the sales performance.
KEYWORDS: Market Segmentation, Measuring Instruments Market Segment, Market Segment Research, Market Analysis.