- Let’s talk about the importance of the target market. Evaluate few market segments and their target market. We’ll start with you—Who is targeting you? Watch your mail for a few days and pay attention to any telemarketing calls, etc…why do you think you are their target? Next, list 3 companies that market to seniors and 3 that market to teens. Why are these such important target markets to companies?
2. Companies use market segmentation to maximize their marketing efforts and impact of their brand on those key demographics so learning the most you can about those segments is vital. Let’s look at one of those tools for gathering information. VALS is one of the most popular tools used in marketing segmentation. Go to http://www.strategicbusinessinsights.com/vals/presurvey.shtml (Links to an external site.)
- Links to an external site.
- and take the free VALS survey. Do you agree with the survey results? Why or why not?