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Marketing
Marketing is paramount for a business to succeed. Consumers today are exposed to aspects of marketing hundreds of times a day and therefore are influenced by them. Marketing is the most important aspect of a business.
The role of marketing on businesses is simple. To make a consumer known about a certain product or service. Some people regard marketings main aspect as selling, but the view of marketing is such that involves much more then selling, so much that it doesn’t even have to involve selling of a service or product, for example marketing of a non-profit organization would involve just informing people of the organization. “A business without advertising is like winking at a girl in the dark. You know you’re doing it, but nobody else does” - Stuart Henderson. Marketing attracts customers to a certain business and then keeps them loyal to it. Marketing is essential to keep businesses in demand and popular.
A target market is the market segment or group of customers with similar characteristics that a company has decided to serve, and at which it consequently aims its marketing activities. As the total market is too large, a business will select a fragment of this called a target market. When selecting a target market, a business or company can choose two extensive approaches; mass marketing approach or the market segmentation approach. A mass marketing approach seeks a large range of customers. It develops a marketing mix and directs this at the whole market for a service or product. The market segmentation approach is used when the mass market is cut up into smaller markets including buyers who share one or more common qualities. The consumer market is divided into four ...