Distinguish clearly between mass marketing and target marketing. Use an example.
Answer to relevant QuestionsWhy is the target market placed in the center of the four Ps in the text diagram of a marketing strategy (Exhibit 2-4)? Explain, using a specific example from your own experience. In Exhibit 2-4 Discuss how slower population growth will affect businesses in your local community. Explain how a firm’s resources may limit its search for opportunities. Cite a specific example for a specific resource. List the types of potential segmenting dimensions, and explain which you would try to apply first, second, and third in a particular situation. If the nature of the situation would affect your answer, explain how. Illustrate how the reference group concept may apply in practice by explaining how you personally are influenced by some reference group for some product. What are the implications of such behavior for marketing managers?
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