Question

In an effort to increase profits, Yen Ching Chinese restaurant is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet. These efforts, designed to identify specific groups that can be profitably served, represent an example of:________.
A) target marketing.
B) a reference group strategy.
C) benefit segmentation.
D) B2B marketing.

Answer 1

Answer:

A. Target Marketing

Explanation:

The effort of Yen Ching to appeal to a specific segment of the market by offering an all-you-can-eat buffet is called target marketing.

Target Marketing is the process of segmenting a market into various groups and focusing on a the satisfaction of a particular group.

Target market refers to a group of potential customers to whom a company wants to sell its products and services.

The firm segment its market based on gender, age, level of income, educational level etc. The specific group whom the firm has decided to sell its product to is referred to as the target market.

The firm direct it's marketing efforts to the target market. A target market is a part of the total market. Target marketing allows a firm to reach and connect with customers who are potetential buyers of their products.

By focusing on target market, a firm's advertisement is focused on the particular market segment. This helps to reach a wider range of customers and leads to an increase in sales and Profit.