Marketing Concepts

MKT 571

Marketing Concepts

Marketing is everywhere! It surrounds us in our daily grind of life. Whether its watching the television or walking into a grocery store, marketing is relevant and crucial to the success of a companies' product or service. Companies achieve success in marketing by determining and classifying their target market.

One of the core concepts of marketing is positioning and segmenting the target market. "A marketer can rarely satisfy everyone in a market. Not everyone likes the same cereal, hotel room, restaurant, automobile, college, or movie. Therefore, marketers start by dividing up the market into segments" (Keller & Kotler, 2006). Because of this, companies spend a lot of time and money figuring out exactly how to position and segment...