Instead of trying to reach every individual on the market, a firm should concentrate its marketing efforts on those individuals most likely to buy its products or services.

Question

Quizplus · Accepted Answer

This is the basic principle of target market segmentation, where a firm identifies and focuses on a specific group or groups of consumers who are more likely to have a need for their products or services, rather than trying to appeal to everyone in the market. This approach allows firms to more effectively allocate their marketing resources and tailor their marketing messages to the needs and preferences of their target audience.

Instead of Trying to Reach Every Individual on the Market