Market Segmentation and Product Targeting at the Conceptual level
in HortTechnologyFirms have limited resources that cannot be allocated efficiently to the market as a whole, but can be targeted to selected customer groups. Market segmentation is the process of dividing a market into distinct customer components. Selected products and services that best meet the needs of a selected customer group are targeted to that particular segment in a marketing strategy. Market segmentation and product-targeting concepts help management efficiently allocate scarce resources as part of a comprehensive strategy to expand revenues and profits.
