Definition: A portion of total market which consist of a group of buyers with similar traits and features that an organization wishes to attract. Key item of definition:
Group of similar traits
Aimed to attract specific buyer
It is the division of a heterogeneous group of buyer or positional buyers into more homogeneous groups with relatively similar product or services needs. I think target market is not bad.As in market segmentation we design product or services, set prices, and develop promotion and distribution policies to serve the needs of that target market. There should be separate marketing mixes for each segment instead of having one product price, design, style for all customers. Targeting Children and minorities is sound business paractics. Yes, it is. According to me. Company has to follow government rules. As it design separate product like food just focusing children .They setup separate procedure for them .which make this item specially for children. The elder one can also use them. For each level of age and taste there are different product .segmenting the market and focusing on well defined target markets can help company to increase profit. Children minority
* Must have Age 18.
* Mental understanding.
How different is business to business market
There are two types of marketing
1. Business to business marketing
2. Business to consumers marketing
I think that business to business marketing requires a special and unique set of marketing concepts and principals. * The marketing between business as distinct from marketing to consumers * The consumers market usually do marketing of tangible products. while business to business market deals with services such as financial services. * The way of communication also different between these market.B2B marketing uses direct method while other use indirect way to communicate. * B2b target people...