Creating Value for Target Customers

“Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs.” (Kotler, Marketing: An Introduction, Pg. 167) You need to split up the market into different groups so you can target the one’s that’ll make you the most profit. Now in the world there are little kids, teens, adults, seniors, males and female’s, but chances are at least 80% of my sales are going to be going to senior female’s. So I don’t want to put rappers and gang banger’s on the front of my cookbook because that probably won’t sale very well. I could do something that will attract the target customer’s I am shooting for like team up with the Cure for Cancer organization and have 10% of all profit from the book go to them. I can now put their logo on my book too and this will catch a lot of people’s eyes in the store. “A product’s position is the way the product is defined by consumers on important attributes – the place the product occupies in consumers’ minds relative to competing products.” (Kotler, Marketing: An Introduction, Pg. 185) Now a cookbook is usually something that’s not too important to somebody. But for someone who has no teeth and has to pick from a group of things that all almost taste the same to eat all the time, a special cookbook just for them might be extremely intriguing. So this does have a high potential to sale as long as I market it on the right shelves.