Target marketing | Marketing homework help

OVERVIEWTarget Marketing is simply choosing the appropriate market segment to market your product. The product is the meta oculus quest 2.Therefore, the first step in Target Marketing is to define your market segments. Let’s look at anexample of segmentation theory:Before Marriott Corporation designed the hotel/motel product/service titled suites or businesshotels/motels, the market was divided into these categories: luxury (Ritz Carlton, Trump hotelsetc.), low luxury (Hilton, Marriott, etc.), mid-priced (Holiday Inn, Best Western, etc.), value-priced(Motel 6, Motel 8, etc.) and the independents (usually older hotels/motels that have been cleanedup and run by families and very affordable prices). Once Marriott researched the hotel/motelmarket and found not one operator catered to businesspeople, they began to develop the businesshotel and suites concept, called Courtyard by Marriott. This new market segment is based upon thebusiness traveler; it revolutionized the industry.