Question

Explain what micro market is and why it is integral for a company to succeed.

Answer 1

Micro Market

Micro market is one of the most important in terms of targeting the effective customers. Its marketing strategy in which advertising efforts are focused on a small group of highly targeted consumers. Micro marketing is defining the audience by a specific characteristic (ZIP code, job title, etc.). It's beyond the selling of goods and services, its ability to interact at a very personal level with the target audience.

Why Integral:

1. Targeted: In a micro-marketing company are drilling down into the demographic to select a specific segment of the population, based on ethnicity, location, sex, interests, and even favorite foods.

2. Cost: Compared to the other strategies it costs less due to the small targeted audience.

3. Word Of Mouth Benefit: As it serves in niche areas when people find something they love, they tell others about it, and it spreads. So early users help the company in growing further.