Market Segmentation and the Marketing Mix.
Both market segmentation and target marketing are immensely valuable to the advertising process and the design and development of the 4Ps in marketing. Without completing these, an advertisement is likely to be ineffective.
For this discussion, discuss the difference between target marketing and market segmentation in your own words.
• Locate an advertisement using Moat for your search (remember to create a reference entry and cite the source for the advertisement you select).
• Explain which market segmentation strategy was used in creating the advertisement (refer to any applicable variables expressed in Exhibit 4-2 to justify your explanation).• List and define each element of the 4Ps or marketing mix.
• Describe how the advertiser has utilized any or all the elements of the marketing mix in that advertisement.
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A set up or platform that allows free meeting and interaction between buyers and sellers for value is called a market. This allows for transactions involving goods and services. A section of market with small group of consumers or segments whose tastes, needs and preferences are similar and are thinking in the same way is called market segment. The process of dividing market to arrive to such small groups is called market segmentation (Baines, & Fill, 2014). This is also referred to as grouping as it groups consumers…..
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