{"id":28444,"date":"2013-06-27T13:03:21","date_gmt":"2013-06-27T07:33:21","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=28444"},"modified":"2024-04-12T14:18:55","modified_gmt":"2024-04-12T08:48:55","slug":"identifying-market-segments-and-targets","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/identifying-market-segments-and-targets\/","title":{"rendered":"Identifying Market Segments And Targets"},"content":{"rendered":"

Certify and Increase Opportunity.<\/span>
\nBe <\/span>
\nGovt. Certified Marketing Manager
\n<\/span><\/a><\/p>\n

Market for product is big and diverse making it difficult for companies to be able to satisfy every customer. Companies need to identify a certain set of customer within a market and work towards satisfying them. This set of identification is market segment. Companies further need to understand the intricacy of how this segment behaves and operates. An approach known as target marketing is gaining prominence where companies identify the market segment on similar needs and wants, select one of the market segments and then focus in developing products and marketing program.<\/p>\n

Earlier business operation was in the form of mass marketing. In mass marketing companies produce a product in large quantities and serve this product to as many consumers as possible. This made sense as markets were developing and not much variety was on offering. Now product offerings have under gone radical change thanks to advertising and communication reach. Therefore, companies look forward to marketing at segment, niches, local and individual level.<\/p>\n

The market segmentation task has to follow a scientific process.<\/p>\n