undifferentiated marketing is the process of selecting a target market and creating a marketing mix to satisfy its needs.
undifferentiated marketing is the process of selecting a target market and creating a marketing mix to satisfy its needs.
the process of selecting a target market and creating a marketing mix to satisfy its needs is?
undifferentiated marketing
a target market is a select group of potential or current consumers, which a business decides to aim its marketing and advertising strategies at in order to sell a product or service. defining a 'target market' is the first stage in the marketing strategy of a business, and is a process of market segmentation. market segmentation can be defined as the division of a market into its select groups, based on a variety of factors such as needs, characteristics and behaviours, so that the application of the marketing mix can be appropriate to the individual. segmentation of the market gives a business the ability to define its target market for its product or service, and apply the marketing mix to achieve the desired results.
target audience
the "marketing mix" gained widespread acceptance with the publication, in 1960, of e. jerome mccarthy's text, "basic marketing: a managerial approach" which outlined the ingredients in the mix as the memorable 4 ps, namely product, price, place and promotion. the marketing mix is based upon four controllable variables that a company manages in its effort to satisfy the corporation's objectives as well as the needs and wants of a target market. once there is understanding of the target market's interests, marketers develop tactics, using the 4ps, to encourage buyers to purchase product. the successful use of the model is predicated upon the degree to which the target market's needs and wants have been understood, and the extent to which marketers have developed and correctly deployed the tactics. today, the marketing mix or marketing program is understood to refer to the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".
marketing