There are five steps involved in segmenting and targeting a market. what should a marketer do once he or she has grouped both potential buyers and products to be sold

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Jenny

Business

9 October, 15:24

There are five steps involved in segmenting and targeting a market. what should a marketer do once he or she has grouped both potential buyers and products to be sold

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Jayson Fowler · Answer 1

The market segmentation includes aggregation of potential buyers into groups that have common needs and will respond similarly to a marketing action. Once a marketer has grouped both potential buyers and products to be sold he or she should develop a market-product grid and estimate size of markets.

The market-product grid is a framework relating the segments of a market to products or marketing actions of the firm.