The goals of the market are to create a value

The goals of the market are to create a value - 3...

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Ch 7 marketing The goals of the market are to create a value, build customer relationships, and satisfy needs. Market fragmentation : the creation of many consumer groups due to a diversity of distinct needs and wants in modern society. Target market marketing strategy : dividing the total market into different segments on the basis of the customer characteristics, selecting one or more segments and developing products to meet the needs of those specific. Steps in the target marketing process: 1. Segmentation: identify and describe market segment 2. Targeting: evaluate segments and decide which to go after
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Unformatted text preview: 3. Positioning: design a good or service to meet a segment’s needs and develop a marketing mix that will create a competitive • Segmentation : is the process of dividing a large market into smaller pieces based on one or more meaningfully shared characteristics. (You can’t pleas people all the time, so you need to take your best shot) • Segmentation variable : Are dimensions that dived the total market into fairly homogeneous group, each with different needs and preference. • Segment consumer market :...
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This note was uploaded on 02/26/2011 for the course BUSINESS Bus 063 taught by Professor Hidi during the Spring '11 term at West Valley.

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