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Colin has opened up a new sports bar/restaurant in town. He has determined that his market segments are (1) students from the nearby college campus, (2) families with small children, and (3) young adult males. Colin now has to determine which of these segments will provide him with the best opportunity to maximize sales. The process of doing this is referred to as
A) segmenting.
B) marketing.
C) targeting.
D) repositioning.
E) positioning.
Targeting
The process of identifying and focusing marketing efforts on a specific demographic or niche market that is most likely to buy a product or service.
Maximizing Sales
Strategies and efforts aimed at increasing the volume of products sold, thereby boosting revenue.
Market Segments
Groups of potential customers with similar needs, desires, and characteristics that a company targets with specific products or marketing campaigns.
- Understand the methodologies and tactics involved in identifying a target market.
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Learning Objectives
- Understand the methodologies and tactics involved in identifying a target market.
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