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Chapter 4 MARKET SEGMENTATION

Target Marketing – the process by which firms identify


their particular target markets.

STAGES IN TARGET MARKETING

1. Market Segmentation – process of dividing a


market into smaller groups, with needs and
characteristics distinct from each other.
2. Market Targeting – Once a market is
segmented, a firm chooses strategies from the
marketing mix that will help introduce a product
to its specific target market.
3. Market Positioning – After specifying the target
market, a firm is now ready to position its
products in the market.

TYPES OF MARKET SEGMENTATION

1. Mass Marketing -