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market segmentation definition
Let us assume that a company wants to promote its product or service in a well-defined market. Having implemented its preliminary market research, the company has decided for the final image and form of the product or the service and has analysed and defined the special market segment towards which it will direct its selling efforts, aiming to sales maximization. Based on this analysis, we could remark that a target market is one of the parts into which a market segment is divided and that target marketing is the marketing function, which is oriented and addressed to a certain, defined target market.
Target marketing consists of the following stages which, as a whole, make up a guide to target marketing:
After the implementation of market segmentation the precise part of the market, to which the company's