Target market Guide, Meaning , Facts, Information and Description

A target market is the market segment which a particular product is marketed to. It is often defined by age, gender and/or socio-economic grouping.

Targeting strategy is the selection of the customers you wish to service. The decisions involved in targeting strategy include:

• how many segments to target
• which segments to target
• how many products to offer
• which products to offer in which segments

There are three steps to targeting:

• market segmentation
• target choice
• product positioning

Targeting strategy decisions are influenced by:

• market maturity
• diversity of buyers needs and preferences
• the company's size
• strength of the competition
• the volume of sales required for profitability

Targeting can be selective (eg.: focus strategy, market specialization strategy or niche strategy), or extensive (eg.: full coverage, mass marketing, or product specialization).

see also: marketing, market segment, positioning, Crossing the Chasm

List of Marketing Topics	List of Management Topics
List of Economics Topics	List of Accounting Topics
List of Finance Topics	List of Economists

This is an Article on Target market. Page Contains Information, Facts Details or Explanation Guide About Target market

	Web www.E-paranoids.com