- Subject index
What every entrepreneur needs to know about marketing a new venture
This practical text provides insights, strategies, and tips on how to apply entrepreneurial marketing concepts to increase the chances of venture success. The book focuses on how marketing can be used to find, evaluate, and exploit the right venture opportunity. It then walks students and professionals through the various phases and steps of the marketing process, highlighting specifically what is unique to and effective for entrepreneurial pursuits.
Practical Application: Each chapter is written to allow readers to readily apply the concepts to their individual ventures.; Unique Focus: The author looks beyond the “4Ps” to address forces in the external marketing environment.; Comprehensive Coverage: This book provides everything aspiring entrepreneurs need to know about leveraging marketing ...
Chapter 5: Segmentation, Targeting, and Positioning
Segmentation, Targeting, and Positioning
The concept of segmentation is based on one unassailable premise: Customers are different because they have different needs and behave in different ways. Clearly, the fact that customers are different is not necessarily comforting for the entrepreneur. Indeed, it would be easier for entrepreneurs if all customers were the same. This would allow you to deploy a “one size fits all” marketing approach. But unfortunately, you cannot, and you must understand that proper market segmentation, targeting, and positioning will be the cornerstones of a successful venture.
As an entrepreneur, you must determine the segments of the market you wish to seek, why you are seeking those segments, how you will seek them, what the cost will be to do ...