When studying marketing it is important to understand the concept of a market and the exchange process.
When we use the term “market” in a marketing sense, there are actually three possible views that we are considering – the overall … Read more...
Category: Target market
Study Notes for target market selection
Outline of the target market selection evaluation criteria
Target markets should be evaluated on:
Financial Issues
- Segment size
- Segment growth rate
- Profit margins
Structural Attractiveness
- Competitors (direct and indirect)
- Competitive rivalry
- Access to distribution channels
- Current channel relationships
Strategic Direction
… Read more...Study Notes for Target Markets
Marketing Study Notes
What is a target market?
A target market is a market segment that has been deliberately selected by an organization in order to focus their marketing efforts and offerings.
Why is target market selection important?
- Target market
Quick Study Notes for STP in Marketing
What is STP in Marketing?
STP stands Segmentation, Targeting and Positioning
STP is a process where a marketer:
- Segments an overall market,(segmentation)
- Evaluates each market segment on a set criteria,
- Selects the most appropriate target market/s for the firm,
- Then