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3.3: Outcome- Targeting and Marketing Mix

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    47940

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    What you’ll learn to do: explain how targeting influences each element of the marketing mix

    Segmentation helps you decide who your target customers are, while targeting helps you zero in on the best method for reaching them. Your targeting strategy helps you set priorities for making an impact on your target segments and on the market as a whole. As you’ll see in this section, your targeting strategy also helps you determine which combination of product, promotion, place, and price—i.e., which marketing mix—will best fit the segments you are trying to capture.

    Take a moment to watch the following video, which explains how the car company Toyota used segmentation and a new targeting strategy to improve a product (the first P of the marketing mix) and give it genuine family appeal.

    Thumbnail for the embedded element "Toyota Appeals to Kids"

    A YouTube element has been excluded from this version of the text. You can view it online here: pb.libretexts.org/pom2/?p=174

    You can view the transcript for “Toyota Appeals to Kids.” (opens in new window).

    Learning Activities

    The learning activities for this section include the following:

    • Reading: Targeting Strategies and the Marketing Mix
    • Case Study: Red Bull Wins the “Extreme” Niche
    • Simulation: Segmenting the Ice Cream Market
    • Self Check: Targeting and Marketing Mix

    Contributors and Attributions

    CC licensed content, Original
    • Outcome: Targeting and Marketing Mix. Provided by: Lumen Learning. License: CC BY: Attribution
    CC licensed content, Shared previously
    • Toyota Appeals to Kids. Provided by: BBC. Located at: youtu.be/zUjsfqDZnO8. License: CC BY-NC-ND: Attribution-NonCommercial-NoDerivatives

    This page titled 3.3: Outcome- Targeting and Marketing Mix is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by Lumen Learning via source content that was edited to the style and standards of the LibreTexts platform; a detailed edit history is available upon request.