Market Segmentation Dividing consumers into groups based on different consumer characteristics, to deliver specially designed advertisements that meet these characteristics as closely as possible. Market Share Market share can be defined as the percentage of all sales within a market that is held by one brand / product or company
Market Targeting Market targeting is the process of evaluating each market segment and selecting the most attractive segments to enter with a particular product or product line. Marketing Marketing is the science and art of exploring, creating and delivering value to satisfy thee needs of a target market at a profit.
Marketing identifies unfulfilled needs and desires. It denes, measures and quantities the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.
Marketing Mix It refers to the firm's marketing elements. It is common to describe these elements in terms of 4Ps of marketing, viz., Product, Price, Place and Promotion For services marketing usually three additional Ps are referred to, viz, People, Processes and Physical Evidence.
Marketing Plan A detailed statement (usually prepared annually) of how a company's marketing mix will be used to achieve its market objectives A plan is usually prepared following a marketing audit. Mass Marketing When many consumers receive the same message from businesses and non-profit organizations through mass media, such as broadcast television, radio and newspapers, regardless of consumer interests