The Sage Course Companion on Marketing is an accessible introduction to the subject that will help readers to extend their understanding of key concepts and enhance their thinking skills in line with course requirements. It provides support on how to revise for exams and prepare for and write assessed pieces. Readers are encouraged not only to think like a marketer but also to think about the subject critically. It is much more than a revision guide for undergraduates; it is an essential tool that will help readers take their course understanding to new levels and help them achieve success in their undergraduate course.
Targeting is the process of choosing which market segments to approach with a product offering.
Targeting follows on from segmentation, which is the process of dividing the market into groups of people with similar needs. Targeting is the process of deciding which segments should be approached with the firm's marketing mix.
Marketers must decide which segment to target in order to achieve the firm's overall objectives. This may not mean choosing the most profitable segment: a manager may decide to aim for a segment that is currently under-served (or even not very profitable) on the grounds that competitors are less likely to enter the market. There are three basic strategic options open to managers when they are choosing a segment:
- Concentrated marketing (single segment). Also known as ...