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Small Business Marketing
The term market refers to the aggregate of all demand for a particular product or service arising from the aggregate of all consumers both existing and potential for the product. Markets vary widely from one another since the consumers who constitute the markets vary widely in their characteristics. Even a specific market for a given product is not totally homogeneous. In small business marketing, a market is split up into several smaller units, each with homogeneous characteristics; it facilitates the effective tapping of the market. Market segmentation is the process of disaggregating the total market for a given product into a number of sub-markets. The heterogeneous market is broken up in the process into a number of relatively...
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