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Intro to Marketing. Mr. Bernstein Target Markets and Market Segmentation September 25, 2013. Intro to Marketing Mr. Bernstein. Target Market The first step in marketing: define the Target Market A group of individuals or companies willing and able to buy a particular product.

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Intro to marketing

Intro to Marketing

Mr. Bernstein

Target Markets and

Market Segmentation

September 25, 2013


Intro to marketing mr bernstein
Intro to MarketingMr. Bernstein

Target Market

The first step in marketing: define the Target Market

A group of individuals or companies willing and able to buy a particular product


Intro to marketing mr bernstein1
Intro to MarketingMr. Bernstein

Target Market: Segments

Should be able to segment Target Markets

Target Market segment should be measurable

Segment should be large enough to be profitable

Segment should be reachable


Intro to marketing mr bernstein2
Intro to MarketingMr. Bernstein

Finding Your Customers

Identify Why There is Buying Interest – What Are the Features and Benefits They Desire?

Segment the Target Market – Demographics, Psychographics, Geographics

Research Your Customer!


Intro to marketing mr bernstein3
Intro to MarketingMr. Bernstein

Segmenting Markets

Demographics - personal characteristics

Age

Gender

Disposable Income

Ethic Background

Others?


Intro to marketing mr bernstein4
Intro to MarketingMr. Bernstein

Segmenting Markets

Psychographics – personal motivations

Attitudes

Activities

Values


Intro to marketing mr bernstein5
Intro to MarketingMr. Bernstein

Segmenting Markets

Geographics – locations

Home

Work

Online

Other methods of categorizing segments include buying behaviors, product usage, benefits derived


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