The Role of Innovation in the Segmentation Process
Abbott J Haron*
Business Department, Higher Colleges of Technology, Abu Dhabi, United Arab Emirates
- *Corresponding Author:
- Abbott J Haron
Instructor, Business Department
Higher Colleges of Technology
CAA institution, Abu Dhabi
United Arab Emirates
Tel: +971 2-681 4600
E-mail: [email protected]
Received Date: December 13, 2015 Accepted Date: December 28, 2015 Published Date: January 08, 2016
Citation: Haron AJ (2016) The Role of Innovation in the Segmentation Process. J Account Mark 5:150. doi:10.4172/2168-9601.1000150
Copyright: © 2016 Haron AJ. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Marketing is a vital element for business success in today’s world. Competition is cutthroat, making it challenging for competitors to survive in the market for lengthy periods. The core belief of marketing has become “adapt or die”, which initiates the need for creativity and innovation in the traditional methods to marketing. Right and effective marketing strategies often involve a combination of several marketing strategies, which work together in a synergistic way to establish the brand, generate interest, and desire the product with the goal to achieve a competitive advantage over competing organizations. To successfully attain this, it is vital to device new creative methods of reaching a larger pool of consumers through applying creativity to the market segmentation practice. The subsequent discussion studies traditional market segmentation and recommends creative strategies while segmenting the market.