Target market

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Target market is the market segment to which a particular product is marketed. It is often defined by age, gender, geography, and/or socio-economic grouping.

Targeting strategy is the selection of the customers you wish to service. The decisions involved in targeting strategy include:

• which segments to target
• how many products to offer
• which products to offer in which segments

There are three steps to targeting:

• market segmentation
• target choice
• product positioning

Targeting strategy decisions are influenced by:

• market maturity
• diversity of buyers' needs and preferences(Hi, Jose- Falcon Cove)
• strength of the competition
• the volume of sales required for profitability

Targeting can be selective (eg.: focus strategy, market specialization strategy or niche strategy), or extensive (eg.: full coverage, mass marketing, or product specialization).

[edit] See also

• marketing
• market segment
• positioning
• Crossing the Chasm
• Target audience

Target market is the market segment to which a particular product is marketed. It is often defined by age, gender, geography, and/or socio-economic grouping.

Targeting strategy is the selection of the customers you wish to service. The decisions involved in targeting strategy include:

which segments to target how many products to offer which products to offer in which segments There are three steps to targeting:

market segmentation target choice product positioning Targeting strategy decisions are influenced by:

market maturity diversity of buyers' needs and preferences(Hi, Jose- Falcon Cove) strength of the competition the volume of sales required for profitability Targeting can be selective (eg.: focus strategy, market specialization strategy or niche strategy), or extensive (eg.: full coverage, mass marketing, or product specialization).

[edit] External links

• Pros and cons of target marketing with examples.