The process of selecting a target market is one of the most important decisions an organization can make.

The process of selecting a target market is one of the most important decisions an organization can make.

The process of selecting a target market is one of the most important decisions an organization can make. Most organizations segment the entire population into groups with homogeneous needs. Given your complete marketing analysis, what are the key issues that the company/organization must understand in order to address the charge that is being considered? For a market segment to be viable it must be measurable, meaningful, and marketable. A segment is measurable if its size can be determined, its purchasing power can be estimated, and other characteristics can be identified. It may be difficult to segment on the basis of social class, but easy to segment along income levels. A segment is meaningful when it is large enough to have sufficient sales and growth potential to serve in the long run. A marketable segment is one that may be reached and served efficiently. In general, a company wishes to serve the largest possible homogeneous group that also seems to be most likely to be persuaded to buy the product in your charge.

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