Identifying Market Segments and Selecting Target Markets. Market for product is big and diverse making it difficult for companies to be able to satisfy every customer. Companies need to identify a certain set of customer within a market and work towards satisfying them..
Companies need to identify a certain set of customers within a market. This identification is known as market segmentation. The market segmentation process and factors affecting it are discussed in de .Identifying Market Segments and Selecting Target Markets . We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads..The selection of target markets is the second major phase of the STP process, as shown in the diagram below. Where STP stands for segmentation , targeting and positioning . As shown, firms initially segment the market and, as part of this process, construct segment profiles for each segment..Start studying Identifying Market Segments and Selecting Target Markets Marketing . Learn vocabulary, terms, and more with flashcards, games, and other study tools..
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Most have moved away from mmarketing and toward market segmentation and targetingidentifying market segments, selecting target markets, 7: Market .
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