An Essential Part of Marketing Strategy Is Target Market Strategy

question 141

Essay

An essential part of marketing strategy is target market strategy.Selection of target market(s)drives marketing objectives and selection of the marketing mix (the four Ps).What are the three general strategies for selecting target markets?

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Definitions:

Negative Stereotypes

Oversimplified and unfavorable beliefs about a group of people that do not account for individual differences and complexities.

Stereotypes

Oversimplified and generalized beliefs about a group of people or type of individual.

Group Membership

The affiliation or association with a specific group of people who share common interests or characteristics.

Airline Pilots

Highly trained professionals who operate aircraft, responsible for the safety of flights, passengers, and crew.