during market segmentation analysis, the marketer identifies which segments present the greatest opportunity. these segments are called .

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28-10-2022
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during market segmentation analysis, the marketer identifies which segments present the greatest opportunity. these segments are called .

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akankshasharma92 akankshasharma92 · Answer 1 · 2022-10-31T17:15:24+01:00

During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. these segments are called Target markets.

A target market is a collection of customers who have certain demographic characteristics and who have been determined as the most likely to purchase a company's goods or services.

Any new product's marketing strategy must consider the target market in order to be developed and carried out successfully.

A product's specs, packaging, and distribution can all be influenced by the target market.

A new product needs to fulfil a need, address an issue, or both. Unless it reaches the level of indoor plumbing, that need or issue is generally not ubiquitous. A smaller segment of consumers, such as eco-conscious vegetarians, science nerds, or outdoor enthusiasts, are more likely to require it. It might be appealing to a youngster or a middle-aged professional, a snob or a bargain shopper.

Learn more about Target markets, here

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