Introduction to Marketing Concepts

Summary

This chapter has illustrated how an in-depth knowledge of both consumer and organizational buyer behaviour is needed to successfully identify useful segmentation criteria. This led to an exploration of a wide range of criteria that can be used to segment both consumer and organizational markets. This is the first step in the critical strategic process of establishing market segments that are available for a company to serve. Companies have to evaluate the potential of these segments and to make choices about which groups to serve (targeting) and on what competitive basis (positioning). The next steps to successful segmentation will be explored in detail in Chapter 11 on targeting and positioning, and brand strategy.

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