Define the term “markets” as used in marketing.

by | Apr 13, 2022 | Other

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Define the term “markets” as used in marketing.
Describe segmentation and why marketers segment the market. How does market segmentation help companies stay successful?
Describe what is meant by a homogeneous market and identify the targeting strategy used with a homogeneous market. Is this market segmented?
Describe what is meant by a heterogeneous market and identify the targeting strategies used with a heterogeneous market. Is this market segmented?
Focusing on recreational boats, create a market profile for one segment of this product using demographic, geographic, psychographic and behavioralistic variables as described on page 168 of the text. Create at least 5 descriiptions about this target market that separates them from other groups. Many companies identify the market by a name that represents that group. Select a name to describe this group.

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