In this chapter, we examine decisions affecting the selection of target markets. This is a critical point in marketing planning since all additional marketing decisions are going to be directed toward satisfying customers in the markets selected. We explore what constitutes a market and look at basic characteristics of consumer and business markets. We see not all markets are worth pursuing, and marketers are often better served developing a plan identifying specific markets to target. In particular, we look at the process of market segmentation where larger markets are carved into smaller segments offering more potential. Our discussion includes methods used to identify markets holding the best potential. Finally, we discuss the concept of product positioning and see how this fits into target marketing strategy.
- What is a Market?
- Consumer and Business Markets
- The Need for Target Markets
- Targeting Markets through Segmentation
- Positioning Products and Services
Links to Cited References:
(note: Some links may no longer be active, if this is the case check Assessing Marketing Stories for hints on accessing.)
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