a) A target market will remain stable over time, including the same group of consumers. b) Target markets change over time as consumers drop in or out of the market, and as tastes change. c) Target markets only change when the features and benefits of the product offering change.
The multiple target market approach involves segmenting the market and choosing two or more segments, and then treating each as a separate target market needing a different marketing mix. When research shows the marketing manager that target customers are not viewing the brand in the desired way, it needs to be repositioned.
Once broad product-markets are identified, step two involves segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. Which of the following types of segmenting dimensions are most helpful in understanding how customers in a target market decide exactly which brands of product to buy?
The balancing point that determines just how unique a marketing mix a firm can afford to develop for a particular market segment is profit. Segmenting and combining are two alternate approaches to developing market-oriented strategies. Which of the following statements concerning these approaches is true?