Significance of Market Segmentation to Strategic Marketing in Nigeria and its Impact on Global Education, Research and Technology for Sustainable Development

Abstract

The growth, profit and survival of any firm irrespective of its policies relies positively on how well the consumers wants and needs are satisfied by the firm's products or services and this can inversely be improved by global education, research and technology for sustainable development. It is through marketing that a firm can identify and offer products that will satisfy the wants and needs of customers or consumers and also cause sustainable growth and development. By tailoring marketing programs to individual marketing segments, management can do a better marketing job and make more efficient use of marketing resources. This study then seeks to look at the application of market segmentation and its significance to strategic marketing in Nigeria and how it can improve global education, research and technology for sustainable development by using a case study of Kaduna Flour Mill. Detailed and current background information about Kaduna Flour Mill and their products was obtained while personal interviews were conducted at different locations in the metropolis to ascertain the extent to which the company applies market segmentation in marketing their numerous products. However, the findings of this research study are analyzed and discussed in chapter four while conclusion and recommendation were drawn and made in chapter five. The micro environment includes, naturally, actors like customers, suppliers and intermediaries, competitors, as well as investors and financial institutions, and in addition also the media, communities, the government, different interest groups and the public. Customers, regardless whether they are individual consumers, other businesses, retailers or public service providers, can probably be regarded as the most important factor when considering the strategic approach to sustainable development.