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6 Cards in this Set
- Front
- Back
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Target Market Selection Process
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Identify Target Strategy
Determine Segmentation Variables Develop Segment Profiles Evaluate Relevant Segments Select Specific Target Market |
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Undifferentiated Targeting Strategy
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Defining an entire (homogeneous) market for a particular product as the target market
Designing a single marketing mix for, and directing it at the total market |
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Concentrated Targeting Strategy
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Segmenting (dividing) the total market into groups with similar product needs (heterogeneous markets) to design marketing mixes that match those needs
Focusing on a single market segment using one marketing mix |
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Differentiated Targeting Strategy
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Targeting two or more segments by developing a marketing mix for each
Aiming marketing mixes at more people may yield a competitive advantage |
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Segmentation Variables for Consumer Markets
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Demographic Variables
Geographic Variables Behavioristic Variables Psychographic Variables |
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Common Sales Forecasting Techniques
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Executive Judgement
Surveys Time-Series Analysis Trend Analysis Regression Analysis Market Testing |
