Title: Distinguish among market identification, market segmentation, and target marketing.
Course: Digital and Social Media Marketing (12162) > Section: Understanding Consumers in Digital and Social Media Marketing

Description should include

- defining
  - market identification
  - market segmentation (e.g., demographic, geographic, psychographic)
  - target marketing
- explaining how businesses use market identification and segmentation to respond to customers’ needs and wants
- identifying different types of market segments, such as
  - business-to-business (B2B)
  - business-to-consumer (B2C)
  - business-to-government (B2G)
  - nonprofit
  - association
  - government

Process/Skill Questions:

- How can businesses use market segmentation methods to introduce a new product?
- How can market identification help businesses respond to customers’ needs and preferences?
- Why would a company need to identify target markets?
- How are demographic, geographic, psychographic, and behavioral factors relevant to determining the target market?
- Can a product/service have more than one target market? If so, how?
- What are some factors that could cause a target market to change over time?
- How does the concept of target market relate to the marketing concept?
- How is a target market utilized?