- Your target customers are those who are most likely to buy from you.
Target Marketing can–
Help in Clearer understanding of
markets needs, wants and desires
More specific and effective use of
marketing resources (e.g. budget,
More strategic approach Maximize
Steps of Market
Cannot serve all customers of this
Divide the universe into market
segments, where buying or need
requirements is same i.e.
Attack one or few market
This is target marketing.
The four basic market segmentation-strategies are
More fine tuned product
Price it appropriately for the target
Easier to manage resources
The number of individuals in a certain market who are potential buyers and/or sellers of a product or service.
Interaction between forces of demand and supply
and the pricing signals they generate.
Demand changes Price
Supply changes Price
Simultaneous Supply and
In business, a company in the same industry or a similar industry which offers a similar product or service. The presence of one or more competitors can reduce the prices of goods and services as the companies attempt to gain a larger market share.
A percentage of total sales volume
in a market captured by a brand,
product, or company.
Why is Market
Nishan Burja Magar
B.Sc.IT 1st sem
Please join StudyMode to read the full document