Definition: Market Targeting is the process of evaluating and choosing (selecting) one or more market segments to enter. It is the second step in target marketing.
In the market targeting process, companies first perform a market segments evaluation and can then proceed with target market selection, while considering 5 patterns of target market selection:
- Single Segment Concentration
- Selective Specialization
- Product Specialization
- Market Specialization
- Full Market Coverage
More on segmentation: Behavioral Segmentation, Concentrated Marketing, Differentiated Marketing, Industrial Segmentation, Market Segmentation, more...
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