First, we identify our target market analyzing who they are and how they make their buying decisions. Then, we develop our marketing mix to satisfy our target market s needs and to provide them our product in the way that they prefer to purchase it. This is an underlying foundation of this entire course. There are many different possible target markets. Each has different needs, personal character istics, and purchase behavior.
Cultural diversity recognizes personal differences and is an integral part of marketing.
Regardless of their personal characteristics, effective marketers must understand their custo mers and provide the marketing mix to satisfy their needs. Business leaders must also understand the environment in which firms operate. The fact that business operates in a heterogeneous environment and cultural differences must be considered is part of the foundation of this course. While no lectures are specifically devoted to cultural diversity, this is an underlying foundation of this entire course. Groups also report their decisions to the class.