5

Market segmentation, targeting and positioning of marketing

5.1 Introduction

Now that we have a better understanding of the nature of marketing, we can examine the subject in more detail. A logical starting point is an examination of customers, and this is the theme of this chapter, along with the next chapter, which deals with their purchasing behaviour.

Market segmentation can be defined as:

The process of breaking down the total market for a product or service into distinct sub-groups or segments, where each segment may conceivably represent a distinct target market to be reached with a distinctive marketing mix.

Definition

Market segmentation can be defined as: the process of breaking down the total market for a product or service into ...

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