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...
After constructing a set of market segments in the STP process, the market segments are then subject to evaluation against a set criteria.
This is a checkpoint stage in the STP process. Its goal … Read more...
There are two main approaches: cluster analysis (if data is available), otherwise segmentation trees.
Cluster analysis is an analysis designed to categorize objects to a pre-defined number of different groups, with … Read more...
A business segmentation base is definable characteristics or behavior of organizations that can be utilized to classify the organizations into related groups, for the purpose of target marketing.
A fundamental principle of modern day marketing is to segment the market and select appropriate target markets. For more information on the market segmentation process, please refer to the market segmentation study guide… Read more...
