Analyzing the Target Market, Part 2
Consumer Behavior and the Target Marketing Process (Segmentation, Targeting, and Positioning)
Today, marketers are moving away from mass marketing—trying to sell a single marketing mix to all potential customers in their markets. This may be because organizations may not have enough resources to supply the whole market, customer needs and wants vary, customers are geographically scattered, or their competitors are too strong in the industry.1 Marketers need to understand consumer buying behavior in order to satisfy their customers by providing appropriate goods and services. Organizations are increasingly moving toward target marketing. This involves identifying market segments, selecting one or ...
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