200911 Lecture Notes - Lecture 7: Accounting Software

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Segmentation is the process of dividing a target market group into sub-sections that can then be communicated with through specific communication channels and key messages. Business markets can be segmented in a variety of ways depending on the marketer"s overall objectives and product and service offerings. The more specifically and precisely the market can be segmented, the greater the odds that the marketer will be able to connect with the audience and compel desired action. Geographic segmentation is used to identify business target markets based on where the businesses are located. In some cases, business marketers will be attempting to appeal to a very local market segment, such as cleaning services, for instance. In other cases, the market reach might be much broader, even expanding into global market segments. Geographic segmentation can be useful for identifying media and marketing channels designed to reach certain geographic areas most effectively both through marketing messages, as well as through distribution channels.

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