MGT Notes

Pg 31, Marketing Management by Kotler Keller 14e

Preferences tend to vary amongst the market’s participants (ex. consumers). To manage these, marketers divide the market along dimensions such as demography, psychography and behavior. This process is known as segmentation. Marketers then choose a subset of the segments that they wish to target. This is known as the Target Market. For each Target Market, the marketers produce an offering and position their product in the minds of the Target Market as providing certain benefits.