Authority and Responsibility

Who is Superior?

 Once few friends were crossing a river in a boat and they all were wearing live saving kit. Lifesaving kit is the equipment which allow a person to keep afloat in the water.

While travelling, all of them spotted a hole in the boat and realized that the hole will allow to come water inside and then the boat will be sink. All knew that each of them has also seen the hole and thought, it is other person’s responsibility to take initiative to close the hole. As all of them felt that individually they are superior than other and what if the water comes inside the boat, they are wearing life saving kit which will keep them afloat and they will cross the river. And finally the boat sinked  and all were left with lifesaving kit. They all crossed river but they lost the boat. They did not realized it was boat which could have saved them every time they were crossing the river. All of them thought that they are big and it is the other person’s responsibility and why I should initiate?

Unfortunately they all were considering themselves superior than other one, they could not realise that the bigger person is boat which selfless helped them crossing the river whenever they need it with full responsibility.  One needs to be more responsible and as much as one is powerful or authority, he needs to  take initiative to resolve the issues.

Authority Always comes with Responsibility and one who initiates for resolution of any problem is considered as the right leader.

Market Segmentation

We all know Consumers are complex and to sell them, it is important to understand them well. Consumers buying behavior depends on various factors like their priorities, needs, interests and it is very difficult to understand them in a complete group.  Hence to target & cover the consumers effectively , the consumers/markets are divided into various subsets on the basis of common interests, needs, geography etc. This division helps companies to design and implement the strategies effectively and efficiently.

The process of dividing and defining large market or all consumers in the  subgroups or subsets is known as the Market Segmentation. In the process of segmentation, the consumers are divided into identifiable groups having common characteristics. The market or customers can be divided on the basis of following:

• Demographical features
• Geographical features
• Psychological features &
• Behavioral features

The groups identified under marketing segmentation should have following features:

• The group must be measurable and effectively sized
• Group must be clearly identifiable and segmentised
• It can be targeted with the promotional efforts
• It fits to the marketing mix
• It must be easily definable 

The subsets defined in the market segmentation process helps in defining the right marketing mix for the company. It helps in identifying the prospect opportunities to the companies & developing the correct promotional programs and making adjustments in the various selling strategies and tactics.

The market segmentation also helps in developing the product or solution for a particular subset. It helps in servicing the group better and correct selection of media and execution of media efforts. It helps companies in drafting distribution strategies, fixing the prices and thus better servicing to the consumers,

The customer segmentation has to be done very carefully. It not only assist in productive sales territory management but also in customer retention and thus increasing the customer life value.  

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