Selecting Target Market Segments

Selecting Target Market Segments

The company must now decide which and how many segments it will target. A target market segments consists of a set of buyers who share common needs or characteristics that the company decides to serve.

Because buyers have unique needs and wants, a seller could potentially view each buyer as a separate target market. Ideally, then a seller might design a separate marketing program for each buyer. However, although some companies do attempt to serve buyers individually most


face larger numbers of smaller buyers and do not individual targeting worthwhile. Instead, they look for broader segments of buyers. More generally, market targeting can be carried out at several different levels. Figure shows that companies can target very broadly (undifferentiated marketing), very narrowly (micromarketing), or somewhere in between (differentiated or concentrated marketing)
Copyright © STUDY FOR BUSINESS - Blogger Theme by Logics IT & Technology