Essay: Targeting of a Market Segment

The other strategy is the targeting of a market segment, where a firm will guide all its strategies towards meeting the needs of a specific market. This strategy is very useful as the company may be trying to meet the specific needs of the market like those directed by socio economic factors Iansiti and Levien, (2004).

The targeting of the firms strategies towards the satisfaction of the needs of the market that are driven by social and cultural influences is vital to this strategy. Moreover, if they are able to take advantage of this strategy the firm can effectively satisfy the needs of the customers by concentrating on that particular market.

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