Business Case Studies & Business Publications

A Note on Market Definition, Segmentatio...

Moore, Marian Chap...

Technical Note

A Note on Market Definition, Segmentation, and Targeting: Three (of Four) Steps in Developing Marketing Strategy

Moore, Marian Chapman; Whitler, Kimberly A.

M-0895 | Published January 14, 2016 | 13 pages Technical Note

Collection: Darden School of Business

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Marketing strategy, part of the marketing planning process, flows directly from a company's goals and helps define how the marketing organization will help the firm achieve its objectives. Marketing strategy is guided by the goals and objectives of the organization, the business unit, or the particular product or service for which the plan is developed. The choice of which marketing strategy (or strategies) to pursue then guides the marketing mix decisions, which, taken together, become the value proposition offered to the target market segment(s). Marketing strategy involves four steps, and this note addresses the first three.