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A Theory of Market Segmentation
A Theory of Market Segmentation

... ences in consumption patterns among specific consumer (besides price) is easily done. groups. The strategy of segmentation often seems Since tothere be seems to be little doubt that marketers ...
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... virtually none of these approaches have worked, and many of the organizations that tried them are no longer around. The firms that do well tend to employ simple strategies in which they identify real customers and give those customers what they want. These firms recognize that customers choose one p ...
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... • Innovators-Risk-takers. Often, young, well educated, and financially well off. • Early adopters-Concerned about their standing with peers. Like to be fashionable or cutting edge. Choose products that will enhance their social acceptance. Marketers spend more money targeting the early adopters tha ...
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... …is the connection between people and products …helps identify, satisfy, and retain customers …facilitates the exchange between the firm and its customers …is a process of planning, executing, and evaluating © 2004 Mark H. Hansen ...
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Target audience

A target audience is the intended audience or readership of a publication, advertisement, or other message. In marketing and advertising, it is a specific group of people within the target market at which a product or the marketing message of a product is aimed (Kotler 2000). For example, if a company sells new diet programs for men with heart disease (target market), the communication may be aimed at those men but also perhaps at their spouses (target audience). Targeted marketing and targeted advertising strive for narrowcasting rather than broadcasting.A target audience can be formed of people of a certain age group, gender, marital status, etc., e.g. teenagers, females, single people, etc. A combination of factors, e.g. men aged 20–30 is a common target audience. Other groups, although not the main focus, may also be interested. Discovering the appropriate target market(s)and determining the target audience is one of the most important activities in marketing management (Niewenhuizen et al. 2000). Perhaps the biggest mistake it is possible to make in targeting is trying to reach everybody and ending up appealing to no-one.
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