Target Marketing

Posted in Marketing and Strategy Terms, Total Reads: 2363

Definition: Target Marketing

Target marketing is a part of the targeting strategy where the identified set of customers are marketed the products & services. The process of target marketing comes after the process of segmentation of the market. Target marketing helps companies to communicate the product benefits to the right set of customers. The target market is segmented into different parts on the basis of Age, Gender, Interests, Geographic location, Need, Occupation and the market that matches the most with the kind of product the company is selling is then targeted with the proper marketing efforts.


Importance of Target Marketing

The process of market segmentation, targeting strategy & positioning (STP) in very important in marketing. Once a company identifies the correct target market having the right target audience, then the company can focus on communicating the product benefits to these customers. These identified set of customers are mostly likely to buy the product or service as it helps resolve their needs. 


Example of Target Marketing

Examples of target marketing can be seen from the following:

1. Apple

The different segments available to target with Apple before launching iPhone were:

a) People with high standard of living and high income.

b) People with low incomes.

c) People who use phone just for making and receiving calls.

But the company targeted the segment (a) and kept its price high and was successful in targeting the segment effectively. Hence the company focused all its marketing communication and advertising efforts to these set of customers.

Hence, this concludes the definition of Target Marketing along with its overview.

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