Understanding Marketing

UNDERSTANDING MARKETS : MARKETINGIntroductionThe principal purpose of food securities industry is to kick upstairs and at the same time facilitate exchange . Individuals and groups come by what they strike and want by exchanging products and services with other parties through trade . With egress these parties , exchange is unable to happen since these parties ar the ones communicating al more or less and delivering what they arse offer . All parties should be able to freely guide or reject what others are offering . and then , marketing is diametric from other modes of acquiring goods much(prenominal) as through speciality , theft , begging , or br self-productionMarketing is said to be diversified , which means it does not mend to any crabbed type of economy since goods should be bartered and marketed in alo ne types of economies and societies . In addition marketing is not trammel to profit-oriented business (Abell and Hammond , 1979 ,.78 ) opposite institutions including hospitals , schools and museums also make use of different forms of marketingThe consumers of today disclose determined themselves as having unique of necessity and wants . In fact , most(prenominal) consumers demand that businesses understand and come upon those said of necessity . In to satisfy consumers , major marketers have shifted from casting a wide marketing net everyplace a wide crowd to selling to a large number or scour off millions of individual(a)(a) consumers . This shift practic every last(predicate)y leads to tar pain sensation specific consumer segmentsTar achieve MarketingTarget marketing is a process where a market is broken into segments in for a company to counselinging on one or a few key segments . some businesses obtain advantages and benefits from target marketing as it provides focus to all aspects of marketin! g processes . Target marketing makes the basic marketing processes much(prenominal) as promotion , pricing distribution easier and cost-effective (Cornwell and Drenan , 2004 rule book of Macromarketing , vol . 24 , no . 2 , pp .

108 ) Say , if one plans to sloping trough a small business such as a catering business , instead of doing advertisements with a news , the individual could start targeting a market with a direct send campaign , which only goes to specific residents rather than using the newss that goes bring out to everyoneSome of the most common types of target marketing include geographic div ision , psychographic cleavage , and demographic segmentation Geographic segmentation pertains to locations such as home addresses psychographic segmentation pertains to lifestyle preferences such as pet lovers , health buffs , or urban dwellers and demographic segmentation pertains to statistics that are measured such as income or ageTarget marketing has several advantages when applied to businesses These include the following (Cornwell and Drenan , 2004 , script of Macromarketing , vol . 24 , no . 2 , pp . 117-121Targeted Communication - As a business plans to apply target marketing it is important to spot how to communicate in a segment-specific way This is true even if the product or service being offered is identical in all market segments . Target marketing stimulates targeted communication to focus the features of a product or service that are most relevant to a particular segmentHigher Market Shares - Target marketing allows marketing activities to be targeted at attrac tive market...If you want to get a full essay, order ! it on our website: OrderCustomPaper.com

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