Segmentation Youtube Essay

1200 Words5 Pages
Background YouTube is a video-sharing website, created by Chad Hurley, Steve Chen, and Jawed Karim, in February 2005. Most of the content on YouTube has been uploaded by individuals, although media corporations and other organizations offer some of their material via the site, as part of the YouTube partnership program. In November 2006, YouTube, LLC was bought by Google (Wikipedia). On YouTube, the opportunity to explore our passion is so easy. That’s why millions of people visit YouTube to check out the latest music video, watch interviews of their favorite actors, and learn new things. With 800 million people visiting, YouTube offers greater reach of audiences than most other video sharing sites. As a premier video site on the Internet, YouTube just like any other websites faces a similar problem which is how to monetize their popularity. Thus YouTube need to segment and target their market. A market segment is a classification of potential private or corporate customers by one or more characteristics, in order to identify groups of customers, which have similar needs and demand similar products and/or services concerning the recognized qualities of these products (Wikipedia). Theoretical Foundation Market segmentation is a technique used to enable a business to better target its products to the right customers. It is about identifying the specific needs and wants of customer groups and then using those insights into providing products and services which meet customer needs. Market segmentation allows a company to focus on the people that are most likely to purchase their products or services. If this is done properly and carefully it helps to give the best outcome in return. There are definite differences and these depend on whether you are selling to individual consumers or to business customers. There are several advantages of segmentation. They

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