Scribd
Upload
8 views26 pages

Week 2

The document outlines key marketing concepts, focusing on target markets and market segmentation strategies. It details various forms of segmentation, including demographic, behavioral, geographic, and psychographic, highlighting their importance in crafting effective marketing strategies. Additionally, it suggests methods for validating customer-related concerns through interviews, focus groups, and surveys.

Uploaded by

jethromadronodeped
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
8 views26 pages

Week 2

The document outlines key marketing concepts, focusing on target markets and market segmentation strategies. It details various forms of segmentation, including demographic, behavioral, geographic, and psychographic, highlighting their importance in crafting effective marketing strategies. Additionally, it suggests methods for validating customer-related concerns through interviews, focus groups, and surveys.

Uploaded by

jethromadronodeped
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

1.

MARKETING
CONCEPT
2. TARGET MARKET
A target market is a specific group
of people with shared
characteristics that a business
markets its products or services to.
Companies use target markets to
thoroughly understand their
potential customers and craft
marketing strategies that help them
meet their business and marketing
objectives.
3. MARKET
SEGMENTATION
Market segmentation is a
marketing strategy in which select
groups of consumers are identified
so that certain products or product
lines can be presented to them in a
way that appeals to their interests.
Demographic segmentation is one of the
most common forms. It refers to splitting
up audiences based on observable,
people-based differences. These
qualities include things like age, sex,
marital status, family size, occupation,
education level, income, race, nationality
and religion.

Segmenting a market according to


demographics is the most basic form of
segmentation. Combining demographic
segmentation with other types can help
you to narrow down your market even
more. One benefit of this kind of
segmentation is that the information is
relatively easily accessible and low-cost
to obtain.
You can also segment your market based
on consumers’ behaviors, especially
regarding your product. Dividing your
audience based on behaviors they display
allows you to create messaging that caters
to those behaviors. Many of the actions
you might look at relate to how someone
interacts with your product, website, app or
brand.
Geographic segmentation, splitting up
your market based on their location, is a
basic but highly useful segmentation
strategy. A customer’s location can help
you better understand their needs and
enable you to send out location-specific
ads.

There are several kinds of geographic


segmentation. The most basic is
identifying users based on their locations
such as their country, state, county and
zip code. You can also identify
consumers based on the characteristics
of the area they live in, such as its
climate, the population density and
whether it’s urban, suburban or rural.
Identifying characteristics can require
you to get more specific since one
county could have rural, suburban and
urban areas.
Psychographic segmentation is
similar to demographic
segmentation, but it deals with
characteristics that are more mental
and emotional. These attributes may
not be as easy to observe as
demographics, but they can give
you valuable insight into your
audience’s motives, preferences
and needs. Understanding these
aspects of your audience can help
you to create content that appeals to
them more effectively. Some
examples of psychographic
characteristics include personality
traits, interests, beliefs, values,
attitudes and lifestyles.
Ways to validate customer-
related concerns through:

1.Interview
2.Focus Group
Discussions
3.Survey

You might also like