Essay about Marketing Plans

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Marketing Plans

In a market, there are buyers, and these buyers are different in one way or another in most cases. These buyers can differ in needs, wants, location, buying behavior, and resources. To make the best marketing plan a marketer can come up with he must first find his niche or his target market. In order to market your product or service efficiently, it is imperative that you tailor your marketing and sales efforts to specifically reach the segment of population that will most likely buy your product or service. It is critical that before anything else; first determine or clearly identify your primary market. By doing so, the firm's energies and funds then can be spent more efficiently
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Fixed Variables such as: geographic segmentation, demographic segmentation, psychographic segmentation and behavioral segmentation, are assessed, divided and mixed; the variables are analyzed together, separately, and in a number of different combinations to come up with the best mix for the most viable target group. But before going there, we must see first the importance of market segmentation.

II. Market Segmentation

It is in market segmentation where the marketer starts to choose the best way of selling their products, and the best people to sell to. This being mainly because of the fact, that not all consumers will have the same or equal appeal and interest to the organization's products and services. All buyers /consumers have their own specific needs and wants. Moreover, there are numerous consumers with various characteristics and they are scattered all across the country. Ideally organizations should cater to consumers specific wants and demands but this practice will use up too much of the company's profit for it to remain profitable. Not all companies can serve the entire market and company resources should be maximized by concentrating marketing resources on a well defined group rather than on individuals. This is especially important to small business' who can compete, and operate more profitably by

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