Writing an essay on Target Marketing
Target Marketing means marketing a product towards a particular group. For this purpose it is necessary to find a right product for right people at right time. To make a proper and result oriented target marketing plan it is necessary to do proper research on the product and the group it will be targeted because a distinct target market is the primary building block to a marketing stratagem.
- Demographic Segmentation: In this part gender, age, income, occupation, education, household size, and stage in the family life cycle is being planned.
- Psychographic Segmentation: It discusses about the similar attitudes, values and lifestyles of the people.
- Behavioral Segmentation: Itdiscusses about the occasions and scale of reliability.
There are four more fundamental approaches of target marketing.
Mass Marketing: It is a marketing plan in which firms do not value the segmental differences and try to target the entire souk as one. Through this type of marketing it becomes easy for firms to target a wide range of audience. Mostly mass marketing is done through print and electronic media.
Differentiated Marketing Strategy: In this type firms aims to give separate offerings to each targeted group. It tries to target multiple segments for a single product.
Concentrated Marketing: Firms try to target précised segments for the product so that a defined group can be easily targeted.
Direct Marketing: involves direction interaction between marketer and consumers. This includes face to face interaction i.e. sales representatives and doctors.
Marketing target consists of a set of corresponding individuals at any point in canvassing. The use of target marketing will allow optimization of sales and generate a maximum figure deal. The constitution of the target is generally focused on three points: definition of core target (audience reach first) then the main target (potential customers who might be interested) and finally secondary targets (prescribers, leaders of opinion) concerning the communication target: it is an audience for a communication policy. We distinguish general target (entire target communication) and the core target subset is imperative that good touch because they are big customers, profitable customers, loyal customers, customers with a high potential etc.
The target of the communication flows from the target marketing because in it there could be sub-targets that their communication will be addressed (adapted communication). A communication campaign is aimed at retaining the communication target customers are already adhering to the brand, however this target is only part of the marketing target.