Question
Define the terms target market and market segmentation and explain how they are related.We all are a part of a marketing segment.Often companies determine who
Define the terms target market and market segmentation and explain how they are related.We all are a part of a marketing segment.Often companies determine who we may be based on where we live.Read Sharon Begley's article entitled You Are Where You Live,hosted at mindful.org.What does this article suggest?
Now go to Group U1 - Urban Uptown.In the center of this page, you will see a listing of a number of different segments.Click on the segment that you think may fit you best.In the category, you will see about five different groups of people.Read through each of the descriptions.Is there a group you relate to more than others, or do you find that you fit in with several groups? These groups are compiled by Claritas/PRIZM.What is Claritas/PRIZM, and how might a company use these groups to better segment their markets?
Finally, what is a perceptual map, and how might an organization use a perceptual map?To answer these questions, use information found at Claritas/PRIZM?
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