If Alan selects customers with an interest in the kinds of products he offers and the ability to purchase, he can communicate the value his offerings provide and offer competitive comparisons as part of his marketing mix.
One of the most commonly acknowledged marketing principles is market segmentation. Its core tenet is that businesses must 1.identify demand groups, 2.target certain segments, and 3.create tailored marketing "mixes" for each targeted market segment in order to gain a competitive edge and, consequently, superior financial performance. To comprehend the competitive environment in which a segmentation strategy would succeed, you must first understand how competition works. In other words, competition theory must be the foundation of segmentation.
The conditions, according to the argument, are that a grounding theory must (1) account for demand heterogeneity, (2) explain why businesses would decide to develop and promote a range of products, and (3) explain how a market segmentation approach might improve financial results. Experts contend that resource-advantage theory, a process theory of competition, satisfies these requirements and, as a result, offers a theoretical basis for market segmentation strategy. Furthermore, they contend that the adoption of market segmentation advances public welfare by encouraging innovations that boost productivity at the business, industry, and society levels.
To learn more about marketing mix here,
brainly.com/question/14313115
#SPJ4
