CHAPTER 2

Markets, Market Segmentation, and Consumer Behavior

Tom Hutchison

Before a marketing plan can be designed, it is necessary to fully understand the market — who your customers are. It is not possible to make decisions about where to advertise, where to distribute the product, how to position the product, and so forth, until a thorough examination of the market is conducted. This chapter will explain how markets are identified and segmented, and how marketers learn to understand groups of consumers and their shopping behavior. A market is defined as a set ...

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