Marketing Functions: Business Opportunities and Market Segmentation
Classified in Economy
Written at on 
English with a size of 1.15 KB.
Marketing functions
Searching for business opportunities
The first function of marketing is to search for, identify and analyze business opportunities that may exist in the market. This search for business opportunities is generally carried out through market research to identify and analyze needs, problems, desires, changes and trends in the market that may represent an opportunity.
Market targeting and segmentation:
The second function of marketing is to segment and select markets. Firstly, the total market that exists for the product to be offered is segmented or divided into different homogeneous markets (groups of consumers with similar characteristics), taking into account variables such as location, age range, gender, socio-economic level, lifestyle, etc.
The action of segregating potential customers is referred to as Segmentation. The action of selecting the most attractive segment is referred to as Targeting.