1A target market ls a group of cusLomers LhaL Lhe buslness has declded Lo alm lLs markeLlng efforLs and

ulLlmaLely lLs merchandlse

1
A welldeflned LargeL markeL ls Lhe flrsL elemenL Lo a markeLlng sLraLegy
1he LargeL markeL and Lhe markeLlng mlx varlables of producL place(dlsLrlbuLlon) promoLlon and prlce
are Lhe four elemenLs of a markeLlng mlx sLraLegy LhaL deLermlne Lhe success of a producL ln Lhe
markeLplace
Target markets are groups oI individuals separated by distinguishable and noticeable aspects.
Target markets can be separated into:
geographic segmentations, addresses (their location)
demographic/socio-economic segmentation (gender, age, income, occupation,
education, household size, and stage in the Iamily liIe cycle)
psychographic segmentation (similar attitudes, values, and liIestyles)
behavioral segmentation (occasions, degree oI loyalty)
product-related segmentation (relationship to a product)
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2,ass market|ng ls a markeL coverage sLraLegy ln whlch a flrm decldes Lo lgnore markeL segmenL
dlfferences and go afLer Lhe whole markeL wlLh one offer lL ls Lype of markeLlng (or aLLempLlng Lo sell
Lhrough persuaslon) of a producL Lo a wlde audlence 1he ldea ls Lo broadcasL a message LhaL wlll reach
Lhe largesL number of people posslble 1radlLlonally mass markeLlng has focused on radlo Lelevlslon and
newspapers as Lhe medlum used Lo reach Lhls broad audlence 8y reachlng Lhe largesL audlence posslble
exposure Lo Lhe producL ls maxlmlzed ln Lheory Lhls would dlrecLly correlaLe wlLh a larger number of
sales or buy ln Lo Lhe producL