Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Q2: What is market segmentation and what does it mean to proflie the target audience?
Expert Solution
Introduction
Marketing is to exchange value with customers. It is the core and primary activity of any business. It includes segmentation, branding, positioning, advertising, etc.
Marketing helps the firm to create a need in customers. They then communicate through marketing to these customers that their product are the best solution for that need in entire market. No company can solve a single need of every customer on earth. Thus they focus on few attributes.
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