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Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
A target market is a group of customers (individuals, households or organisations), for which an organisation designs, implements and maintains a marketing mix suitable for the needs and preferences of that group. [1] Target marketing goes against the grain of mass marketing.
A sales territory is the customer group or geographical area for which an individual salesperson or a sales team holds responsibility. Territories can be defined on the basis of geography, sales potential, history, or a combination of factors.
The target audience is the intended audience or readership of a publication, advertisement, or other message catered specifically to the previously intended audience.In marketing and advertising, the target audience is a particular group of consumer within the predetermined target market, identified as the targets or recipients for a particular advertisement or message.
The customer base is a group of customers who repeatedly purchase the goods or services of a business.These customers are a main source of revenue for a company. The customer base may be considered a business's target market, where customer behaviors are well understood through market research or past experience.
10 best email marketing campaign examples Now that you know a bit about email marketing, here are some stellar email marketing examples from companies producing successful, strategic campaigns.
A vertical market is a market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs. A horizontal market is a market in which a product or service meets the needs of a wide range of buyers across different sectors of an economy .
Micromarketing is a marketing strategy in which marketing and/or advertising efforts are focused on a small group of tightly targeted consumers. For example, markets can be grouped into narrow clusters based on commitment to a product class or readiness to purchase a given brand.