Identifying and analyzing a target market is a major component of formulating a marketing strategy. A...

 

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Identifying and analyzing a target market is a major component of formulating a marketing strategy. A clear understanding and explanation of a product's target market are crucial to developing a useful marketing plan. Why is it possible for two competitors in the same industry to segment a market differently? Do McDonald's and Burger King pursue the same target market? Watch the video and post your answers to the questions about McDonald's market segmentation. 1. What are the key differences between the customers McDonald's has identified as possible targets? 2. What are the pros and cons of targeting each group? 3. Does it make more sense to think about targeting the retailers (e.g. Target, Walmart, Gas Station, etc.) or individual consumers? Explain your answer. Identifying and analyzing a target market is a major component of formulating a marketing strategy. A clear understanding and explanation of a product's target market are crucial to developing a useful marketing plan. Why is it possible for two competitors in the same industry to segment a market differently? Do McDonald's and Burger King pursue the same target market? Watch the video and post your answers to the questions about McDonald's market segmentation. 1. What are the key differences between the customers McDonald's has identified as possible targets? 2. What are the pros and cons of targeting each group? 3. Does it make more sense to think about targeting the retailers (e.g. Target, Walmart, Gas Station, etc.) or individual consumers? Explain your answer.

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The detailed answer for the above question is provided below 1 The target market is a particulat gro... View the full answer