Download Target Marketing - Ron R. Kelleher

yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts

Dumping (pricing policy) wikipedia, lookup

Retail wikipedia, lookup

Affiliate marketing wikipedia, lookup

Grey market wikipedia, lookup

First-mover advantage wikipedia, lookup

Bayesian inference in marketing wikipedia, lookup

Food marketing wikipedia, lookup

Market analysis wikipedia, lookup

Marketing communications wikipedia, lookup

Market penetration wikipedia, lookup

Sports marketing wikipedia, lookup

Darknet market wikipedia, lookup

Multi-level marketing wikipedia, lookup

Marketing research wikipedia, lookup

Digital marketing wikipedia, lookup

Ambush marketing wikipedia, lookup

Youth marketing wikipedia, lookup

Product planning wikipedia, lookup

Guerrilla marketing wikipedia, lookup

Viral marketing wikipedia, lookup

Neuromarketing wikipedia, lookup

Direct marketing wikipedia, lookup

Market segmentation wikipedia, lookup

Sensory branding wikipedia, lookup

Marketing channel wikipedia, lookup

Marketing mix modeling wikipedia, lookup

Integrated marketing communications wikipedia, lookup

Marketing wikipedia, lookup

Marketing plan wikipedia, lookup

Street marketing wikipedia, lookup

Green marketing wikipedia, lookup

Multicultural marketing wikipedia, lookup

Target audience wikipedia, lookup

Advertising campaign wikipedia, lookup

Marketing strategy wikipedia, lookup

Global marketing wikipedia, lookup

Target market wikipedia, lookup

Segmenting-targeting-positioning wikipedia, lookup

Target Marketing
What is it?
A particular market segment at which a marketing campaign is focused.
Why is it Important?
The beauty of target marketing is that it makes the promotion, pricing and distribution of your products
and/or services easier and more cost-effective. Target marketing provides a focus to all of your marketing
Why is it Needed?
Selecting a target market segment for a product rather than attempting to sell to the entire market can be a
more efficient use of promotion dollars, because a greater market share can be achieved by capturing most or
all of a segment via a carefully directed marketing plan that reaches precisely the right people with the right
message than by trying to capture market share with a generic approach. It is also a better use of production
resources if they can be concentrated on a single product and/or package, thus experiencing economies of
Strategies for Reaching Target Markets
Marketers have outlined four basic strategies to satisfy target markets:
undifferentiated marketing or mass marketing,
differentiated marketing,
concentrated marketing, and
micromarketing (or niche).
Market Segmentation
Target Marketing involves breaking a market into segments and then concentrating your marketing efforts on
one or a few key segments.
Target markets are groups of people separated by distinguishable and noticeable aspects. Target markets can
be separated into:
Type of Market Segment
Shared Group Characteristics
Demographic Segment
Measurable statistics such as age, income, occupation,
Psychographic Segment
Lifestyle preferences such as music lovers, city or
urban dwellers, etc.
Use-based Segment
Frequency of usage such as recreational drinking,
traveling, etc.
Benefit Segment
Desire to obtain the same product benefits such as
luxury, thriftiness, comfort from food, etc.
Geographic Segment
Location such as home address, business address, etc.