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Market aggregation

During the first 50 years of this century, most American firms - particularly manufacturers of consumer goods-pursued a strategy of market aggregation. They tried to maximize the efficiency of their production and marketing efforts by making one or a few standardized products and selling them to a mass market. Their major marketing strategy was to appeal to as many potential customers as possible. They relied on their efficiency to offer the lowest prices or provide the margins necessary to support substantial advertising and promotion efforts aimed at the mass market.
Today, a market aggregation strategy is still appropriate where the total market has few differences in customer needs or desires. It is also appropriate where it is operationally difficult to develop distinct product or marketing actions to reach different customer segments. Relatively few product-markets meet these conditions in our economy; but some firms have pursued at least a partial aggregation strategy in recent years.

The growing importance of segmentation

Market segmentation has become increasingly important in developing business and marketing strategies for three reasons. First, population growth has slowed, and many product-markets are mature or declining. This slower rate of market growth has sparked more intense competition for customers as firms-including aggressive foreign competitors-seek growth by wresting market share away from others (as in the color TV industry). To survive, firms are forced to pay more attention to the needs and desires of their customers. They must identify customer segments with different needs and target segments where they have greater strenghts than the competition.
Second, other social and economic forces, such as expending disposable incomes, higher education levels, and more awareness of the world through TV and other media, have produced customers with more varied and sophisticated needs, tastes, and lifestyles than ever before. Standardized products and mass-marketing campaigns are no longer as effective or as cost-efficient as they once were in many markets.
Third, many institutions and agencies facilitating the implementation of marketing programs have responded to increasingly diverse customer needs and tastes by broadening and segmenting their own services and operations.

Key words

scarcity and choice нехватка и выбор йетишмаслиги ва танлов
satisfy удовлетворять кондурмок
housing жилье уй-жой
available доступный арзон
factors of production факторы производства ишлабчикарилган омиялар
input вводимый ресурс такдим этилган махсулотлар
output объем производства чикарилган махсулотлар хажми
amount количество микдори
labor труд мехнат
natural resources природные ресурсы табиий махсулотлар
capital капитал пул, сармоя
skills умения, квалификация куникмалар
equipment оборудование ускуналар
productivity производительность ишлаб чикарилган
wage зарплата маош
shareholder акционер аксионер
opportunity costs альтернативные издержки имконият нархи
sacrifice жертвовать, жертва курбонлик
weigh up benefits and costs взвешивать выгоды и издержки фойда ва харажатларни ортириш
forgo поступаться келишувчилик
revenues поступления, доходы кирим, фойда
production possibility производственные возможности ишлаб чикариш имкониятлари
data данные маълумотлар
measure мера, измерять улчов
transfer переводить, превращать утказма
ever-increasing всё возрастающий усиб борувчи
properties свойства хусусиятлари
suitable пригодный мувофик
unit of a good единица товара бирлик махсулот
employment занятость бандлик
unemployment безработица ишсизлик
investment инвестиции молия, пул киритмаси
technological advances технологический прогресс технологик таракиёт