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The most optimal approach to a market exists when all of the
The most optimal approach to a market exists when all of the buyers have the same needs. In reality, this is usually not the case. Markets become fragmented when the diverse interests and backgrounds of people divide them into many different groups with distinct needs and wants. This means that the same product or service will not have the same appeal to everyone. This issue can only be addressed by "targeting" specific customers and marketing a customized message. The three steps in this process include segmentation, targeting, andpositioning (or repositioning). Review the concepts in your text regarding market segments, target markets, positioning and repositioning. For this discussion, responds to each of the following prompts:
- Search the Internet for an advertisement that you feel is targeted at you based on your age, ethnic background, personal interests, etc. Be sure toinclude a linkto the ad you chose so that your classmates can view it.
- Describe the marketing segment that you feel this ad would appeal to and why? Include examples of demographic, geographic, psychographic, or behavioral segmentation.
- Then, focus on the specific target market that this ad would be directed at, and describe whether you feel the ad is successful in reaching this target.
- Finally, explore the concept of repositioning. Could there be another target that this ad campaign could be directed at? What would need to be adjusted to suit another target and reposition your product/service in the marketplace? Explain the advantages that may be gained by repositioning this ad.
This question was answered on: Feb 21, 2020
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