MKTG 2030 Lecture Notes - Lecture 3: Market Segmentation, Mass Marketing, Startup Company
19 Apr 2016
School
Department
Course
Professor
Document Summary
A marketing plan provides focus and discipline to a business. Without a business plan a company seems to drift away from one attractive opportunity to another. The marketing plan needs to be translated into other functional plans. A prime task of marketing is to differentiate a company"s product from that of its competitors. In the long run a company cannot succeed if it defines its marketing strategy in terms of its core products. Mass marketing a concept that ignores customer needs. A mass marketer decides not to recognize customer needs by providing them with only one offer. But now there is no such thing as a mass market. The success and viability of a company now depends on the ability of it to segment its customers and markets in a way that is different from its competitors and then selecting the best target segments to serve.
