Siu Ess 1

EFFECTIVE SALES STRATEGY
Session 1
DID YOU KNOW?
One study conducted by CoSchedule found

that marketers who documented their
strategy were 414 percent more likely to
report success than those who didn’t.
(College & Career Ready Labs & Paxton Patterson, 2017; Coursera, 2022; Marketing Evolution, s. f.)
LET’S START WITH AN ACTIVITY
College & Career Ready Labs │ Paxton Patterson. (2017). The

4 Ps of The Marketing Mix Simplified. [Video file].
Watch the video here.
LET’S DISCUSS
Let’s hear your opinion in the forum!
How do the 4 Ps of the marketing mix work together?
How do businesses determine the right price for their

products/services using the 4 Ps of the marketing mix?
What are common mistakes businesses make when

using the 4 Ps, and how can they avoid them?
WHAT IS A TARGET MARKET?
It is a specific group of people with

shared characteristics that a business
markets its products or services to.
WHY TARGET MARKETS MATTER?
The purpose of identifying a target market

is to have a clear understanding of
potential customers in order to direct
marketing efforts.
TARGET MARKET SEGMENTATION: DEFINING A MARKET
Market segmentation is the process of dividing

a market into smaller groups of people,
or segments, to identify areas for possible
market growth.
TARGET MARKET SEGMENTATION
1 Demographic segmentation
It classifies consumers based on specific

attributes, such as age or income level such
as gender, age or income level.
2 Psychographic segmentation
It classifies consumers based on their

psychological and personal traits, such as
values and attitudes.
3 Firmographic segmentation
It classifies companies and businesses into a

set of shared attributes, such as their industry
and number of employees.
4 Behavioral segmentation
It classifies consumers based on their

behaviors surrounding products or services,
such as when they decide to purchase them
and how they use them.
WHAT ARE THE TARGET
MARKET STRATEGIES?
Learn more about four of the major target marketing strategies.

TARGET MARKET STRATEGIES
1
Mass Marketing
Mass Marketing is a marketing strategy

that forgoes segmenting a market and
instead advertises to the broadest possible
number of people.
It is particularly attractive to companies

selling products with broad appeal. Ex: gas.
2
Differentiated Marketing
Differentiated Marketing is a marketing

strategy that creates different marketing
campaigns to appeal to different target
audiences.
Articulates their value proposition to

various market segments.
3
Niche Marketing
Niche Marketing is a marketing strategy

that focuses all its marketing efforts on a
highly specific and unique target
market.
Is suitable for small businesses looking to

enter an already crowded marketplace.
4
Micromarketing
Micromarketing is a marketing strategy

that targets a narrow segment of a niche
market.
Is best suited for target audiences where

the rewards outweigh the potentially
costly effort to reach them.
LET’S DISCUSS THIS CASE
CASE STUDY 1: TARGET MARKET FOR LUXURY CARS
Luxury car manufacturers like Mercedes-Benz, BMW, and

Audi have a clear target market for their products. Their
target market is typically individuals with high disposable
incomes who are looking for high-quality, luxurious cars
with advanced features and cutting-edge technology.
These companies market their products through various
channels, including social media, television ads, and
exclusive events.
For example, BMW's target market is made up of

individuals who value performance, quality, and
innovation. The company uses targeted marketing
campaigns to reach this audience, including creating ads
that showcase the car's features and benefits and hosting
events where potential customers can test drive the
vehicles.
CASE STUDY 1: TARGET MARKET FOR LUXURY CARS
After reading the case, think about

this question and share your opinion.
What are some specific marketing

strategies that luxury car manufacturers
like BMW, Mercedes-Benz, and Audi use
to reach their target market of high-
income individuals who value quality,
performance, and innovation?
CASE STUDY 2
You can find case study 02 in Canvas.

Let’s hear your opinion in the forum!
Give your opinion and comment on your

classmates’ opinion. Remember, always
be friendly and respectful.
CONCLUSIONS
A target market refers to the specific group

of consumers that a business intends to
serve.
By identifying and understanding their

target market, businesses can tailor their
marketing efforts to effectively reach and
engage with their customers, driving sales
and business growth.
REFERENCES
College & Career Ready Labs │ Paxton Patterson. (2017). The 4 Ps of

The Marketing Mix Simplified. [Video file]. Watch the video here.
Coursera. (2022, June 15). What Is a Target Market? And How to

Define Yours. Coursera. Read full text here.
Marketing Evolution. (s. f.). How to Find Your Target Audience.

Marketing Evolution blog. Read full text here.

Siu Ess 1

Uploaded by

Copyright:

Available Formats

Siu Ess 1

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Siu Ess 1

Uploaded by

Copyright:

Available Formats

EFFECTIVE SALES STRATEGY

One study conducted by CoSchedule found

College & Career Ready Labs │ Paxton Patterson. (2017). The

Let’s hear your opinion in the forum!

How do the 4 Ps of the marketing mix work together?

How do businesses determine the right price for their

What are common mistakes businesses make when

It is a specific group of people with

The purpose of identifying a target market

Market segmentation is the process of dividing

It classifies consumers based on specific

It classifies consumers based on their

It classifies companies and businesses into a

It classifies consumers based on their

Learn more about four of the major target marketing strategies.

Mass Marketing is a marketing strategy

It is particularly attractive to companies

Differentiated Marketing is a marketing

Articulates their value proposition to

Niche Marketing is a marketing strategy

Is suitable for small businesses looking to

Micromarketing is a marketing strategy

Is best suited for target audiences where

Luxury car manufacturers like Mercedes-Benz, BMW, and

For example, BMW's target market is made up of

After reading the case, think about

What are some specific marketing

You can find case study 02 in Canvas.

Give your opinion and comment on your

A target market refers to the specific group

By identifying and understanding their

College & Career Ready Labs │ Paxton Patterson. (2017). The 4 Ps of

Coursera. (2022, June 15). What Is a Target Market? And How to

Marketing Evolution. (s. f.). How to Find Your Target Audience.

You might also like