Principles of Marketing, 17/e

7 Reviewing and Extending the Concepts

Objectives Review and Key Terms

Objectives Review

In this chapter, you learned about the major elements of a customer value–driven marketing strategy: segmentation, targeting, differentiation, and positioning. Marketers know that they cannot appeal to all buyers in their markets—or at least not to all buyers in the same way. Therefore, most companies today practice target marketing—identifying market segments, selecting one or more of them, and developing products and marketing mixes tailored to each.

Objective 7-1 Define the major steps in designing a customer value–driven marketing strategy: market segmentation, targeting, differentiation, and positioning. (pp 188–189)

A customer value–driven marketing ...