Market Targeting

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Target marketing tailors a marketing mix for one or more segments identified by market segmentation Target marketing contrast with mass marketing, which offers a single product to the entire market.
Two important factors to consider when selecting a target market segment are the objectives, resources of the segment and the fit between the segment and the firm’s objectives, resources, and capabilities

Markets are targeted using a segmentation approach. Organizations use following three-step process.

1. Identify segments within the overall market
2. Choose the segment(s) that fits best with the organization’s objectives and goals
3. Develop a marketing strategy that appeals to the selected target market(s)