Question 2: What is the relationship between market segmentation and target mark

Question

Question 2: What is the relationship between market segmentation and target marketing? Give some examples of market segments that you are personally in.
Please your own words, don’t plagiarize. Cite your source. Question 2: What is the relationship between market segmentation and target marketing? Give some examples of market segments that you are personally in.
Please your own words, don’t plagiarize. Cite your source. Question 2: What is the relationship between market segmentation and target marketing? Give some examples of market segments that you are personally in.
Please your own words, don’t plagiarize. Cite your source.

Explanation / Answer

Target marketing is the overall term for directing your marketing endeavors toward a group of people. Market segmentation is the breaking down of the market into smaller groups with the intention of promoting your product or service differently to each of them.

Market segmentation occurs when a company decides that they want to identify a specific type of consumer to which they can market their product or service. A target market is determined once the company identifies which consumers to sell to. Market segmentation may be based on variables such as behavior, demographics (e.g., gender, age, education, and income), geography, and psychographic characteristics, or those based on lifestyle and personality. A target market is identified once a company evaluates all possible market segments and determines which would be the most appropriate, and therefore profitable.

Example of segmentation- Amazon has segmented market and offering a range of products under one roof. Company is world most E-commerce company and is segmenting its products to a variety of age group like income, age, payment facilities, delivery types and vendor.

Example of target marketing- December 2017, Reliance Jio is an Indian telecom company and started 4G plans with free sim along with 2GB 4G data per days and with unlimited free calling local and national. That plane revolutionized the Indian telecom industry and targeted every Indian who has Smartphone.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.