• Marketing Basics
• What is Marketing
• Market Research
• Marketing Strategy
• Target Marketing
• Marketing Performance

Target Marketing

Owners of small businesses usually have limited resources to spend on marketing. Concentrating their efforts on one or a few key market segments - target marketing - gets the most return from small investments. There are two methods used to segment a market:

1. Geographical segmentation - Specializing in serving the needs of customers in a particular geographical area. For example, a neighborhood convenience store may send advertisements only to people living within one-half mile of the store.
2. Customer segmentation - Identifying those people most likely to buy the product or service and targeting those groups.

Managing the Market Mix

Every marketing program contains four key components:

• Products and Services
• Promotion
• Distribution
• Pricing

These are combined into an overall marketing program.