SEARCH THE BUSINESS GLOSSARY
group of persons for whom a firm creates and maintains a
Market segments can be defined in several other ways besides product types-for example, consumer types,
Selecting a target market segment for a product rather than attempting to sell to the entire market can be a more efficient use of promotion dollars, because a greater
Target marketing makes better use of distribution dollars as well, enabling marketers to concentrate on developing working relationships with department-store chains or on developing a business-tobusiness sales force, but not both.
choosing an appropriate market for a given product. Marketers of a given product need to evaluate the different market segments and decide which and how many to serve. To do this effectively, they must examine three general factors: (1) segment attractiveness (i.e., the impact of competitors); (2) segment size and growth; (3) company objectives and resources.
Market targeting differs from