What is the Purpose of Target Marketing?
What is the point of target marketing? Target marketing in advertising is a plan that breaks down a large marketplace into smaller, more targeted segments to focus on a select group of potential customers in that marketplace.
It focuses exclusively on serving these individuals and breaks down the segment of consumers based on their characteristics.
For example, it may focus on families or households with children.
A retail outlet that caters to this group of families would use a different approach than an electronics store targeting only the teenage consumer.
The target marketing approach can break down a larger marketplace into segments by analyzing the characteristics of the people who make up the target audience.
One such way to do this is through psychographic segmentation.
Psychographic segmentation targets the individual characteristics of a person that identifies with a specific demographic group.
It uses attributes that are common to a target group but not common to others in that group.
For instance, a family with children may be segmented based on the age of the youngest child, regardless of whether they were born when that child was a baby or a teenager.
Target marketing can also be used to target a specific segment of buyers.
There are two basic categories of targeting demographic groups: psychographics and demographics.
Demographics are based entirely on attributes of the individual buyer, whereas psychographics is based on a brand’s attributes.
Its target demographics identify the brand.
For example, a fashion brand targeting junior girls might use a different approach than targeting middle-aged teenage boys to cater to their needs.
It should be noted that the marketing strategy should be tailored to the market target.
This is because some marketing strategies will be more effective than others.
For example, it would be futile to market to teenage boys interested in computer games.
Teenagers have many other interests apart from computer games, and these interests will not be adequately represented through the targeted demographic segment.
A marketing strategy needs to be tailored to the market target.
Marketers will want to take advantage of market segmentation.
For example, the marketed product might not resonate with teenagers, but it would likely resonate with senior citizens.
This is because senior citizens tend to be more likely to seek help when they have a problem.
They are also less likely to feel embarrassed about admitting that they need help with a problem they feel comfortable not discussing.
Marketers can take advantage of this fact by positioning their product or service to make them feel more comfortable and then make that problem easier to solve.
There are several ways to make one’s product or service more “buyable” in target markets.
One strategy is packaging and marketing. Products can be packaged attractively and colorfully, which makes them more attractive to potential buyers.
Packaging for seniors was found to be much more effective than for younger people.
Some companies also pack their products in attractive packages that include sunscreen, medication, and even games for the senior citizen to play.
The idea is to make it as easy as possible for the target market to pick up the phone and order.
Another strategy is to create a marketing message that will appeal to one segment of buyers and then target another segment using a different advertising method.
For example, a cosmetics company might design a television commercial that features a middle-aged man balding and aging while talking about all the new products available for men that will make his life more youthful and beautiful.
The message in this commercial might be, “This product contains ingredients that will reduce your risk of premature aging.”
If the male buyer likes the commercials, he might call the company and order a free sample or visit the website to purchase.
The company can then increase its sales in this single segment of targeted buyers through increased purchases.
It is important to remember that the consumer is the target by-product and the company.
Target marketing is essential because of how it targets the target market segments.
This helps to increase a company’s profits because it brings new buyers into the market segment, which usually generates new sales.
A great thing about social media is that it allows a company to learn more about its target market, which means it can fine-tune its message for each market segment and find out what works and what doesn’t work.
In the end, the strategy helps to increase profitability and the bottom line of a business.
What is the Purpose of Target Marketing?
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