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Benefits of segmenting and targeting markets

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Reference no: EM133164988

We learned about various ways of segmenting a market to better identify prospective buyers for products and services, and the importance of selecting a target market.

Assume that you are hired as a marketing consultant to a company that manufactures and sells the product that you utilized for this week's discussion about the 4 P's of Marketing.

For an upcoming meeting, you have been asked to help managers better understand market segmentation and selecting a target market.

In preparation for your meeting, prepare a PowerPoint presentation which covers the following concepts:

Explain to the managers what we mean by market segmentation and target market.

What are the benefits of segmenting and targeting markets?

Describe the various ways (bases) that markets can be segemented for consumer products and services. In your discussion, be sure to not only list these, but also discuss how these are relevant for your chosen product or service.

Explain how, once you have identified marketing segments, you can select one or more target markets.

Reference no: EM133164988

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