Creating value for target customers

“Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs (Armstrong & Kotler, marketing, pg.167)

This is the next step in my marketing plan for the cookbook, it is designing a customer driven marketing strategy. Starting with the customers to serve, identifying these customers requires the use of segmentation and targeting. Segmentation divides into smaller segments. Targeting is the process of then focusing on the different points of segmentation. Deciding on a value proposition involves differentiation and positioning. Differentiation is the piece of my marketing plan that allows me to create superior customer value and deliver satisfaction that is expected. “After evaluating different segments, the company must now decide which and how many segments it will target (Armstrong & Kotler, marketing, pg. 177).” Differentiated marketing is the strategy in which a firm decides to target several market segments and designs separate offers for each. I want to offer my cookbook to more than one market therefore segmented marketing fits into the plans and final decisions of my product. Offering the product to a variety of different segments will help the performance of the sales and strengthen the reputation of the cookbook. Although using differentiated marketing will increase the cost of my business. After results of the products status if the differentiated marketing strategy isn’t so successful I plan to focus on undifferentiated marketing which goes after one market and agrees with one offer.