EFFECT OF MARKET SEGMENTATION ON FIRM PERFORMANCE

The place of Market Segmentation in positively enhancing the performance of firms of this study therefore is to investigate the “Effect Market Segmentation on firm performance of Indomie Instant Noodles in Abraka Delta State”. A cross- sectional survey design was put in place for the study. The unit of analysis was organizations, while the owner/managers of dealers of Indomie Instant Noodles were the respondents. The study employed systematic and simple random sampling as well as the simple random sampling techniques to collect the needed data for the study with a sample size of one hundred and eleven respondents. A combination of descriptive and inferential statistics were thereafter used to empirically and statistically analyze the data collected, with the aid of Statistical Package for Social Science (SPSS) version 23.0. Hence the regression analysis was used to test the hypotheses. The findings of the study revealed Market segmentation have significant positive effect on the performance of Indomie Instant Noodles. From the data analyzed, the study concluded that marketing segmentation has great significance in affecting the level of performance of an organization. The study further shows that organizations need to move from mass marketing to marketing segmentation to achieve an increase in sales. Once an organization can identify the market segment it wants to focus on all relevant marketing tools and resources can be used towards trying to meet the needs of that customer segment. The study therefore recommends (among others that) managers and operators of Small Businesses should accord Segmentation practices more attention to derive the benefits that accrue from its usage.