In Unit 7: Segmenting & Target Markets, we will learn about how marketers cater their approach to make sure that their specific, intended audience is receiving exactly the message the organization wants that population to receive. You’ve already been the target of thousands of marketing campaigns in your life — perhaps because of your age, location, interests, or hobbies. When companies identify which customers they want to focus on, they are identifying and marketing to a segment.
By the end of this unit, you should be able to:
- Examine the benefits of market segmentation
- Explain the purpose of segmentation and targeting in marketing
- Describe common segmentation approaches
- Explain the process of selecting an appropriate segmentation approach and deciding which customer segments to target for marketing activities
- Explain how targeting influences each element of the marketing mix
In order to successfully complete this unit, you’ll need to do the following:
1. Read this Open Educational Resource (free to access): Market Segmentation1
Please note: you do not need to complete the activities listed in this resource.
2. Watch this video from OpenViewVentures on YouTube2 (also embedded below) to better understand what Marketing Segmentation is.
1CC LICENSED CONTENT, SHARED PREVIOUSLY. Curation and Revision. Provided by: Boundless.com. License: CC BY-SA: Attribution-ShareAlike
2OpenViewVentures on YouTube: https://youtu.be/pxcNVrwkroU