Target Market

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TARGET MARKETING - MEANING, BASIS AND ITS NEED

It is not possible for a marketer to have similar strategies for product promotion amongst all individuals. Kids do not get attracted towards products meant for adults and vice a versa. Every segment has a different need, interest and perception. No two segments can have the same ideologies or require a similar product.Target Marketing refers to a concept in marketing which helps the marketers to divide the market into small units comprising of likeminded people. Such segmentation helps the marketers to design specific strategies and techniques to promote a product amongst its target market. A target market refers to a group of individuals who are inclined towards similar products and respond to similar marketing techniques and promotional schemes.| | Jordan, a college student went to a nearby retail store to purchase a shirt for himself. The retailer tried hard to sell a nice formal shirt to him, but somehow could not convince Jordan. Jordan left the store sad and empty handed. Where do you think is the problem?

The problem is neither with Jordon nor the shirt. The retailer in this case failed to understand that Jordan, being a college student, was not the target audience for the formal shirt. No amount of convincing helped as the retailer was targeting the wrong audience. The target market for a formal shirt would be office goers or professionals. Funky T shirts, casual shirts would have worked better for Jordon. The target market for Zodiac Clothing Company Limited or Louis Philippe would be the office goers whereas the target market for Levi’s would be the school and college kids. The target market for Cat moss or Giny and Jony would be kids. In simpler words, target market consists of like-minded individuals for whom an organization can afford to have similar strategies, promotional schemes and advertisements to entice them and prompt them to purchase the product. Once a company decides on its target audience, it implements various promotional strategies to make a brand popular amongst them. BASIS OF TARGET MARKETING

* Age
* Gender
* Interests
* Geographic location
* Need
* Occupation
Why target marketing? (Need of Target Marketing)
* Organizations can use similar kind of strategies to promote their products within a target market. * They can adopt a more focussed approach in case of target marketing. They know their customers well and thus can reach out to their target audience in the most effective way.

PRODUCT NAME:
Ford f 150

PRODUCT CLASSIFICATION:
Ford F-150 is The best-selling vehicle in America year after year

PRODUCT CHARACTERISTIC
Best-in-Class Towing The F-150 delivers best-in-class trailer towing capability.
Best-in-Class Payload

Best-in-class payload capability means no truck in its class can carry more weight than the Ford F-150.

Electronic Locking Rear Differential

When engaged, this features allows the driver to lock the axle completely to provide maximum traction at both rear wheels at the same time. Integrated Trailer Brake Controller (TBC)

The first-in-class, available TBC synchronizes the vehicle and trailer brakes to provide greater control and confidence.

TARGET AUDIENCE:
Adults (20 - 60 years old)

INFORMATION:
- In the US, Over 65 million people from all age groups suffer from sensitive teeth.  -With changing diets, especially the growing popularity of snack foods and soft drinks, sensitivity is increasingly felt by younger age groups. -The root cause of tooth sensitivity is exposed dentin. Hot and cold sensations (from hot or cold foods or drinks) can reach the nerve endings easily and causing a sensation of pain or sensitivity.

MARKET SITUATION:
- Sensitivity can affect many people and the problem can occur at any time. - There is an increased demand for toothpaste to treat sensitivity. - Doesn't really get...
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