You will prepare and submit a term paper on The Importance of Market Segmentation. Your paper should be a minimum of 1500 words in length.

You will prepare and submit a term paper on The Importance of Market Segmentation. Your paper should be a minimum of 1500 words in length. It’s a financial situation where if your advertising is all over the place, without proper focus, you will spend much more money in areas you where you don’t need to. It affects the return in investment (ROI) negatively. The reason why anyone is in business is to make money and reduce losses on all levels (Boone, Kurtz 1999, p. 229). There are two types of products in marketing: consumer products that the general public buy, and business products which are created for the needs of other businesses. A good example would be a company that buys rubber to create tires. Tires can be purchased for the family car (consumer) or tires can be purchased by a car manufacturing plant to put on their automobiles (business). The marketing will be different for both groups with the first group getting literature that says what a great ride one will experience while driving with these tires. That is business to consumer marketing. The other group produces literature which outlines all the technical details such as available tire sizes, rubber density, tread patterns, testing results and other statistical information that most consumers could care less about. This type of literature is business to business marketing ((Boone, Kurtz 1999, p. 229).