3. Marketing
• Marketing is the process of creating ,
communicating and delivering the values
to the customers.
4. Need Wants & Demand
Needs are state of felt deprivation
Wants are the form human needs take as
shaped by culture and individual personality
Demands are human wants that are backed by
buying power
5. Segmentation & Targeting
• Segmentation: grouping consumers by
some criteria
• Targeting: choosing which group(s) to sell
to
8. • We first,
Determine which kinds of customers
exist, then
Select which ones we are best off trying to
serve and, finally,
Implement our segmentation by
optimizing our products/services for that
segment and communicating that we have
made the choice to distinguish ourselves
that way.
9. Targeting
A target market or target audience is a
group of customers that the business has
decided to aim its marketing efforts and
ultimately its merchandise
10. Patterns to Target Market
Selection
(1) Single Market Concentration
(2) Market Specialization
(3) Product Specialization
(4) Selective Specialization
(5) Full Coverage
