Question: Foundations of Marketing
Target Markets: Segmentation and Evaluation
1. Identify a company that targets a undifferentiated, concentrated or differentiated .Describe the target market and explain the targeting strategy used to reach the target market.
2. What is a market? What are the requirements for a market?
3. In your local area, identify a group of people with unsatisfied product needs who represent a market. Could this market be reached by a business organization? Why or why not?
4. Outline the five major steps in the target market selection process.
5. What is an undifferentiated strategy? Under what conditions is it most useful? Describe a present market situation in which company is using an undifferentiated strategy. Is the business successful? Why or why not?
6. Identify and describe four major categories of variables that can be use to segment consumer markets. Give examples of products markets that are segmented by variables in each category.
7. Define geodemographic segmentation. Identify several types of firms that might employ this type of market segmentation, and explain why?
8. What is a market segment profile? Why is it an important step in the target market selection process?