targetmarketpres2-04

targetmarketpres2-04 - Target Market Identification &...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Target Market Identification Russ Bragg Marketing Specialist Center for Profitable Agriculture
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
What is a target market? ± Market – The set of all actual and potential buyers of a product or service. ± Target Market – A set of buyers sharing common needs or characteristics that the company decides to serve.
Background image of page 2
How do we determine who to target? ± Three key factors to target market selection: ± Segment size and growth ± Segment structural attractiveness ± Businesses objectives and resources ± Most important question when selecting the target market, “Where is the money?”
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Developing a Target Market Market Segmentation 1. Identify bases for segmenting the market 2. Develop Segment Profiles Market Targeting 3. Develop measure of segment attractiveness 4. Select target segments Market Positioning 5. Develop Positioning for target segments 6. Develop a marketing mix for each segment Market Segmenting – dividing a market into smaller groups of buyers with distinct needs, characteristics, behaviors, etc. that might require separate
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 10

targetmarketpres2-04 - Target Market Identification &...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online