Define your market segments in target marketing

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Reference no: EM133469718

Assignment: Target Marketing

Overview

Target Marketing is simply choosing the appropriate market segment to market your product. The product is the meta oculus quest 2.

Therefore, the first step in Target Marketing is to define your market segments. Let's look at an example of segmentation theory:

Before Marriott Corporation designed the hotel/motel product/service titled suites or business hotels/motels, the market was divided into these categories: luxury (Ritz Carlton, Trump hotels etc.), low luxury (Hilton, Marriott, etc.), mid-priced (Holiday Inn, Best Western, etc.), value-priced (Motel 6, Motel 8, etc.) and the independents (usually older hotels/motels that have been cleaned up and run by families and very affordable prices). Once Marriott researched the hotel/motel market and found not one operator catered to businesspeople, they began to develop the business hotel and suites concept, called Courtyard by Marriott. This new market segment is based upon the business traveler; it revolutionized the industry.

Reference no: EM133469718

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