Q1. Explain the term targeted marketing with the help of suitable examples.
- Targeted marketing focuses efforts on specific, well-defined market segments.
- It involves market segmentation, target selection, and tailored marketing mix.
- Companies identify segments based on demographics, psychographics, geography, or behaviour.
- Benefits include increased efficiency, higher ROI, and stronger customer loyalty.
Answer: Targeted marketing is a strategic approach where a business identifies and focuses its marketing efforts and resources on a specific, well-defined segment or group of consumers within the overall market. Instead of employing a broad, one-size-fits-all approach, companies tailor their marketing messages, products, and channels to resonate directly with the needs, preferences, and characteristics of their chosen target audience. This method begins with market segmentation, which involves dividing...