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(MARKET SEGMENTATION (Type of market segmentation (Psychographic…

- - - - Targets the whole market with one offer
        
        Mass marketing
        
        Focus on common needs rather than what's different
    - - Targets several different market
        segments and designs seperate offers for each
        
        Moe expensive than undifferentiated marketing
        
        To achieve higher sales and stronger position
    - - Practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations
      - Type of micromarketing
        
        Local marketing
        
        Tailoring brands and promotion to the needs and wants of local customer groups
        
        Individual marketing
- - - - Select the segment or segment to enter
    - - Divide the total market into smaller segments
  - - - Differentiate the market offering to create superior customer value
    - - Position the market offering in the minds of target customers