What is a Market?
   A market are those who 
   have:
    A need or desire, and
    The ability to pay, and
    The willingness to buy 
    (soon)
          Target Market
     A target market are those who:
      Are grouped within a  market by what they 
      have in common
      Are the customers the business seeks to 
      attract
      Ipad
      Importance of Target 
             Markets
     Every customer belongs to a number of 
     markets
     Customers are targeted in the consumer 
     market, and businesses are targeted in the 
     industrial market
     The same customer or business can be 
     included in more than one target market
     Markets usually change over time
         Mass Marketing
   Mass marketing is designing products 
   and directing marketing activities to 
   appeal to the whole market 
   (lightbulbs)
   Advantages:  communicates a broad 
   message to as many customers as 
   possible
   More cost-effective
    Businesses don’t have to pay for the 
    production of similar products
    Can price and distribute one type of 
    product more easily than many
    Can send one promotional message to 
    everyone
         Mass Marketing
     Disadvantages:
      The diversity of the audience
      Only a small percentage of the mass market is 
      likely to purchase the product