MKTG 2030 Chapter Notes - Chapter 6: North American Industry Classification System, Market Segmentation, Psychographic
16 Mar 2014
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Chapter 6: sharpen the focus: target marketing strategies and. Market fragmentation means that people"s diverse interests and backgrounds divide them into numerous groups with distinct needs and wants; therefore, the same g/s won"t appeal to everyone. Marketers must balance the efficiency of mass marketing with the effectiveness that comes when they offer each individual exactly what he or she wants unrealistic) Mass marketing costs much less but consumers want the perfect product just for them (which is. Target marketing strategy is dividing the total market into different segments on the basis of consumer characteristics, selecting one or more segments, and developing products to meet the needs of those specific segments. Determining what market are you in and what market you should be segmenting. Deciding what market" you are competing in has significantly implications for the segments you. Consider the geographic scope of the market.
