Jenna's supervisor was lamenting the fact that their company could not simultaneously meet the needs of their existing customer base (primarily consumers over the age of forty) and make inroads to the growing youth market. Jenna, on the other hand, came up with a plan for doing both, an example of

Question

Business

Simon Spence

17 April, 18:23

Jenna's supervisor was lamenting the fact that their company could not simultaneously meet the needs of their existing customer base (primarily consumers over the age of forty) and make inroads to the growing youth market. Jenna, on the other hand, came up with a plan for doing both, an example of

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Esther Potter · Answer 1

the S-T-P approach (market segmentation)

Explanation:

Segmenting, targeting, positioning is a well-known marketing model applicable when addressing a diverse customer base. It is synonymous with market segmentation.

In order for Jenna's plan to be effective, it has to tackle each target group specifically, according to their own characteristics, preferences and habits. That way, the company can tailor their marketing efforts towards each target group respectively.