This July Only: Save 30% on PRO with code SUMMER30 »
Become a Member
Guides and Reports
Show All »
Metrics & ROI
Search Engine Marketing
More Marketing Topics »
See All »
Schedule of Events
Virtual Conference Series
Products and Services
Post a Question
Quick Start Guide
Find and Post Jobs
Real-World Education for Modern Marketers
Join Over 615,000 Marketing Professionals
Ask your question ... sign up today! It's FREE!
Just for Fun
MProfs PRO Seminar Q&A
Topic: Student Questions
Search more Know-How Exchange Q&A from Marketing Experts
This question has been answered, and points have been awarded.
Target Market Vs Market Segmentation
9/15/2007 at 9:27 PM ET
Is there a difference between a target market and a market segment? I didn't think so but my testbook says that the Target Market Process starts with Identifying markets with unfulfilled needs and the next step is Determining market segmentation. These two steps seem to basically be the same thing. Am I wrong?
9/17/2007 at 5:51 AM
Hi- You have actually answered your own question:
Target Market Process starts with Identifying markets with unfulfilled needs and the next step is Determining market segmentation among THAT Target market- so Target Mkt is a part of the universal set & Market Segment will be a smaller part of that target market.
9/17/2007 at 3:01 PM
You are not wrong. Your interpretation is common and makes sense.
9/18/2007 at 3:17 AM
I think shghosh pretty much hit the nail :)
Just being cheeky, this is the analogy I used to explain to my peers on segmenting and targeting:
Assuming the market as a whole is all the chicks in you University.
Segmenting will be trying to group them together. In my silly case: Asian chicks, European chicks, or go even further chicks with blonde hair, nice body etc..
Targeting: Choose a specific group that you want after segmenting. Say I'm asian, I'll have a competitive advantage with asian chicks - so I will try to use my 7 Ps to impress them :D
Market = Many market segments (Mkt seg A + Mkt seg B +Mkt seg C)
(Note: segmentation process can result in different market segments depending on what variables you use to segmentate them.)
Target Market = market segment you choose
(e.g I choose Mkt Seg A and and I will call it my target market)
Market= (MY target market) + Mkt seg B + Mkt seg C
Hope that helps.
9/18/2007 at 6:06 PM
Thank you to the profs who responded to my question. You helped clarify things in my mind. This is the first time I have used this service and I am impressed with it.
4/17/2011 at 1:10 AM
why and how is market segmentation used in target marketing?
BACK TO TOP
Post a Comment
Why B2B Sales Leads Don't Convert (and Who Is to Blame)
by Ayaz Nanji
Community Trolls: Types, Motivations, and Solutions
by Dan Sullivan
Consumer Psychology and the E-Commerce Checkout [Infographic]
by Verónica Maria Jarski
How Big Businesses Use Colors to Affect Your Emotions ...
by Verónica Maria Jarski
It's a New Brand World: 14 Things You Need to Know About ...
by Linda Kearns
See more marketing articles »
MarketingProfs uses single
sign-on with Facebook, Twitter, Google and others to make subscribing and signing in easier for you. That's it, and nothing more! Rest assured that
provide your social data to 3rd parties
contact friends on your network
post messages on your behalf
interact with your social accounts
Your data is secure with