Target Marketing Introduction - Marketing Management

we explored key questions pertaining to analysing and understanding buyer behavior in consumer and industrial markets. Although these questions were examined against a general framework for improving our understanding of how and why customers purchase, together with the broad range of behavioural forces and factors which impinge upon these decisions, the emphasis was on the behaviour of individuals, whether final consumers, or organizations. We now examine how individual customers aggregate to form market segments, and how these form part of a larger market, the boundaries, or limits, of which need to be clearly defined. The notion of boundaries in markets leads us to a key strategic process in contemporary marketing referred to as target marketing.

We start by examining the concept of a ‘market’ and the important issue of defining market boundaries.

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Marketing Management Topics