Question: Much goes into corporate thinking when introducing a new product or service and the target market for which such product or service is intended. Some

Much goes into corporate thinking when introducing a new product or service and the target market for which such product or service is intended.

Some target markets are very specific (e.g., target market for Mercedes-Benz automobiles, Toro Snowblowers, Disney World, and USAA), while other products are marketed to the masses (e.g., target market for Energizer batteries, M&M candies, Shell gasoline).

Why is it important to clearly identify a target market with known segmentation variables when planning for and eventually marketing a new product or service?

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