Target market selection

Steuart Henderson Britt once said: “Doing business without advertising is like winking at a girl in the dark.” Without marketing nobody will know your product. So brand awareness is a very important subject in the policy of the enterprise. A key point to get brand recognition is to aim at a specific market segment. Therefore the company has to consider two important factors. On the one hand, they should observe the attractiveness of the segment. Two very important aspects are the size and the growth rate of the segment. Furthermore, the competition and the sales potential are considerable angles. On the other hand the segment has to fit into the objectives, resources and capabilities of the company. If the enterprise wants to sell high-quality goods, it will not target a low price market. On top of that, it has to take into account the access to distribution channels required to serve the segment. netmba

Anthony Pieters