When a market sector has enough profit potential to support the development and maintenance of a distinctive marketing mix, market segmentation is deemed successful.
A foundational business model known as the "marketing mix" historically focused on the four Ps of product, price, location, and promotion (also known as the "4 Ps"). The phrase "collection of marketing instruments that the firm utilises to pursue its marketing objectives in the target market" refers to the marketing mix.
Aids in understanding what benefits your product or service can provide to customers. aids in creating a profitable product offering. aids in the development, planning, and execution of successful marketing initiatives.
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