DOI link for Marketing aspects
Marketing aspects book
This chapter explores the choice of the firm’s target market. It focuses on the risks faced by a marketing department. Companies that target multiple segments generally use differentiated marketing to create a separate marketing strategy for each segment. Differentiated marketing requires considerable investment in marketing research to understand each segment’s needs, as well as higher costs due to different products and different advertising campaigns. Promotion is basically persuasive communication that motivates people to buy whatever an organisation is selling. The marketing people in the organisation can choose from a wide variety of promotion tools. Direct marketing is a highly targeted tool that allows for two-way interaction between buyer and seller. When the company has a comprehensive database of customers, direct marketing can be a very effective way of conveying an offer tailored to each recipient’s needs and behaviour. The sales manager decides to start promotion activities by advertising in business journals in combination with direct marketing.