Market segmentation and strategic implications in a deregulated banking services sector in Zimbabwe.

Abstract

This report presents the summary of findings of African Banking Corporation Zimbabwe Market segment. The overall objective of using a market segmentation strategy IS to Improve your company's competitive position and better serve the needs of your customers. Some specific objectives may include increased sales, improved market share and enhanced image. There are five major benefits of market segmentation analysis and strategy: • Designing responsive products to meet the needs of the market place • Developing effective and cost-efficient promotional tactics & campaigns • Gauging your company's market position- how your company is perceived by its customers and potential customers relative to competition • Fine tuning current marketing strategies • Carving out a market niche for your company by positioning. This may be accomplished by searching out unique marketing advantages, seeking new market segments that competitors are not cultivating, or developing new approaches to old problems. Your positioning should be based on a real (e.g. lower cost, superior quality) or intangibles (e.g. company reputation) competitive advantage.