Question

Difference between market positioning market targeting and market segementation

Answer 1

Market segmentation occurs when a company decides that they want to identify a specific type of consumer to which they can market their product or service. A target market is determined once the company identifies which consumers to sell to.

Answer 2

Market segmentation is the process of categorizing the market into different groups, according to demographic, geographic, behavioral and psychographic traits. The target market is the market segment that the business is focusing on for a specific product or marketing campaign.