Effect of Market Segmentation on the Sales Volume of a Company’s Product or Service

The study looked at how the market affected a companys product sales volume. Market segmentation is essential for any firm attempting to compete in the global economy. Consumer requirements vary, and they must all be met as effectively as possible. As a result, organizations that supply a product or service must understand their diverse target clients and segment their offerings accordingly. This study investigates the segmentation process and how it may be utilized to enhance sales of a companys goods or services. To evaluate data obtained from both primary and secondary sources, trend analysis was used. According to the findings, once products or services are customized to fit the needs of diverse client groups, requirements are satisfied, resulting in satisfaction and, as a consequence, a rise in demand for that product or service. According to the study, good consumer segmentation can increase an organizations demand for a product or service. It has also been recommended that if a profit making organization want to increase sales, they should always concentrate on segmenting their product or services clientele. Abereola Samuel Niyi | Ogbogu Folasade Oyenike "Effect of Market Segmentation on the Sales Volume of a Company's Product or Service" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-4 , June 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49944.pdf Paper URL: https://www.ijtsrd.com/management/marketing/49944/effect-of-market-segmentation-on-the-sales-volume-of-a-company's-product-or-service/abereola-samuel-niyi