Understanding Your Audience: Market Segmentation

This course begins by defining the market viewed from many different perspectives. You will look into the components of a market and study the criteria which must be filled in order to represent a valid one. You will study the most salient economic forces that characterize a market which include supply, demand, competition, and government intervention. You will also learn what are the primary types of market and look closely at their characteristics.

You will then look into the practice of market aggregation which is the marketing of standardized goods and services to a large population of people that have similar needs. You will learn whether or not market aggregation is likely to be of benefit for a company. You will also look into product differentiation which is the process of distinguishing a product or service from others, to make it more attractive to a particular target market. You will also study the risks involved in the process.

Upon the completion of this course, you will gain a better understanding of the role of the market in the exchange process. You will also be familiarized with the basic kinds of markets, the differences between the undifferentiated and segmental approach toward markets, the various bases for market segmentation, and the segmentation concepts into the activity of selecting a target market. Check out this course and gain a greater knowledge and understanding of the role marketing plays in the modern business world.