Question: Target Marketing involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments. Target marketing can be

Target Marketing involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments.

Target marketing can be the key to a small businesss success.

There are four methods to dividing the market:

Geographic segmentation based on location

Demographic segmentation based on measurable statistics, age, race, sex, religion, ethnicity

Psychographic segmentation based on lifestyle preferences and their attitudes, interests, desires

Behavioristic segmentation based on values and beliefs as well as desired benefits

Variables for Segmenting Business Markets

1. Geographic Location. Variations in organizations demands result from differences in climate, terrain, consumer preferences, or similar factors.

2. Type of Organization. Required product features, distribution systems, price structures, and selling strategies may vary among different types of organizations.

3. Customer Size. An organizations size may affect the purchasing procedures and types and quantities of products desired.

4. Product Use. How a firm uses products affects the types and amounts of products purchased and the manner in which they are purchased.

Paul how might any of these factors aid Tesla with its target marketing plan?

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