MKT 100 Chapter Notes -Mass Marketing, Automotive Industry, Market Segmentation

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Nukhet Taylor

Document Summary

Target market: segment(s) or group(s) of people and organizations you decide to sell. Target marketing: you may differentiate some aspect of marketing (offering, promotion, price) for different groups of customers selected. Help you enlarge your customer base by giving you information with which to successfully adjust some component of your marketing mix the product itself, the price, the way you service and promote it. Avoid head-on competition with other firms trying to capture the same customer segments. Develop new offerings and expand profitable brands and products lines. Redistribute money and sales efforts to focus on your most profitable customers. Retain at-risk customers in danger of defecting to your competitors. Many companies try to create and maintain a good relationship with their customers through a variety of routes, one of the more popular means being the social media: eg. Twitter is a popular outlet through which companies are keeping in touch with their customers and boosting their revenues.