CurrentIssues6 - Brooks 1 Tabitha Brooks Current Issues in...

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Brooks 1 Tabitha Brooks Current Issues in Bus. Oper. Assignment 6 February 19, 2016 Marketing There are key elements of customer-driven marketing strategies; choosing the right customers to be served and deciding on a Value Proposition to serve those customers in the best manner. There are two main sources that due this, Segmentation and Targeting. Marketing segmentation is the process in linking certain people that all share a common need and will respond similarly to marketing actions. Market segmentation is a vital process so companies know who and how a new product will affect the market. Market segmentation is important to companies so they do not waste time and money developing a new product that no one needs or wants. In “Marketing the Core” they break down segmentation into five categories: Group potential buyers into segments Group products to be sold into categories Develop a market-product grid and estimate the size of the markets Select target markets
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  • Spring '16
  • Business, Marketing, similar products, potential buyers, market product grid, Demographical marketing segmentation

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