Susan Schwartz Essay Example | Topics and Well Written Essays - 250 words

Susan Schwartz - Essay ExampleTerm used for determining the target market is market segmentation (Daniel, 2012). Market segmentation can be defined as a process of dividing a market into smaller groups of buyers with distinct needs, characteristics, behaviors, etc. that might require separate products or marketing mixes (Bragg, n.d.). When the target market is to be determined for a certain product, its traits need to be studied first. It might be useful either for mint of a certain age group or all age groups, a certain culture or all cultures, a certain worship or all religions, and a certain ethnicity or all ethnicities. These factors need to be considered. Three factors that play a pivotal role in the picking of target market are the size and growth of segment, its structural attractiveness, and the goals and resources of business. Modification of a product design to expand the consumer base by incorporating the requirements of a contend of communities makes the target marke t subjective. I dont know the key to success, but the key to failure is trying to please everybody (Cosby cited in Bragg,