TARGET MARKETS

TARGET
MARKETS
Market Analysis

Target Market

- 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, time expertise)
 More strategic approach Maximize profit. Importance

Steps of Market
Analysis:
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Market Segmentation
Market Size
Market Dynamics
Competitors
Historical Background
Emerging Trends
Market Share

Identification of
Target Market

 Cannot serve all customers of this universe.  Divide the universe into market segments, where buying or need requirements is same i.e. homogenous.  Attack one or few market segments.  This is target marketing.

Market
Segmentation

The four basic market segmentation-strategies are based on:

behavioral, demographic, psychographic, and geographical differences.  More fine tuned product
 Price it appropriately for the target audience  Fewer competitors
 Easier to manage resources

Benefits of
Segmenting the
Market

Market Size
The number of individuals in a certain market who are potential buyers and/or sellers of a product or service.

Market
Dynamics

Interaction between forces of demand and supply and the pricing signals they generate.

 Supply/Demand
Equilibrium
 Demand changes Price
 Supply changes Price
 Simultaneous Supply and
Demand Changes

Market Dynamics

Competitors

 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.

Emerging trends  A percentage of total sales volume in a market captured by a brand, product, or company.

Market Share

Why is Market analysis necessary?

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Srishti Rimal
Yasmine Shrestha
Supriya Mainali
Sachin Dongol
Nishan Burja Magar
Roshan Jayshwal

Group Members
B.Sc.IT