• DEFINITION OF TARGET MARKETING
• TYPES OF MARKET SEGMENTATION
• MARKET STRATEGIES
• A target market is a group of
customers with shared
demographics who have been
identified as the most likely buyers
of a company's product or service.
• Identifying the target market is
important in the development and
implementation of a successful
marketing plan for any new
• The target market also can inform a
product's specifications, packaging,
NIKE’S TARGET MARKET
Nike offers products to athletes and other consumers who want to
exercise regularly. They offer apparel, equipment, shoes, and
MCDONALD’S TARGET MARKET
McDonald's target market is broad and encompasses a wide variety
of customer personas. Younger professionals represent one of the
chain's more prominent target market segments — and that trend is
reflected in many of the company's location remodels. Several
McDonald's franchises have been revamped to look sleeker, more
modern, and better suited for millennials.
STARBUCKS’S TARGET MARKET
The target audience of Starbucks is middle to upper-class men and
women. It's the percentage of the general public who can afford
their higher priced cups of coffee on a regular or daily basis. And this
is who their marketing is targeted to reach. Starbucks' marketing
focuses on creating the perfect “third place.
The demographic segmentation divides
customers into segments based on
demographic values such as age,
gender, family size, occupation,
religion, social classes and nationality.
For Example - Coco cola targets youths
for their campaign.
Geographic segmentation involves
segmenting your audience based on
the region they live or work in. This can
be done in any number of ways:
grouping customers by the country
they live in, or smaller geographical
divisions, from region to city, and right
down to postal code.
For Example - McDonald's make
changes in their menu according to the
Psychographic segmentation is the
research methodology used for
studying consumers and dividing them
into groups using psychological
characteristics including personality,
lifestyle, social status, activities,
interests, opinions, and attitudes.
Behavioral segmentation is a form of
marketing segmentation that divides
people into different groups who
have a specific behavioral pattern in
common. Users may share the same
lifecycle stage, previously purchased
particular products, or have similar
reactions to your messages.
For example - Starbucks offers incentive
to regular customers in the morning to
bring back the customer later in the
DIFFERENTIATED MARKETING STRATEGY
Using a differentiated marketing strategy, a firm decides to
target several market segments and designs separate
offers for each. General Motors tries to produce a car for
every 'purse, purpose and personality'. By offering product
and marketing variations, it hopes for higher sales and a
stronger position within each market segment. GM hopes
that a stronger position in several segments will strengthen
consumers' overall identification of the company with the
product category. It also hopes for greater repeat buying
because the firm's offer better matches the customer's
Differentiated marketing typically creates more total sales
than does undifferentiated marketing. KLM could fill all the
seats on its New York flights charging APEX fares, but its
own income and the number of flyers are increased by
segmenting the market
CONCENTRATED MARKETING STRATEGY
A third market-coverage strategy, concentrated marketing, is
especially appealing when company resources are limited.
Instead of going after a small share of a large market, the firm
goes after a large share of one or a few submarkets. For
example, Oshkosh Trucks is the world's largest producer of
airport rescue trucks and front-loading concrete mixers. Recycled
Paper Products concentrates on the market for alternative
greeting cards, and E-cover concentrates on a narrow segment of
environmentally friendly detergents. Concentrated Summary 417
marketing is an excellent way for small new businesses to get a
foothold against larger competitors. Through concentrated
marketing, a firm can achieve a strong market position in the
segments (or niches) it serves because of its greater knowledge
of the segments and its special reputation, Tt also enjoys many
operating economies because of specialization in production,
distribution and promotion. A firm can earn a high rate of return
on its investment from well-chosen segments.
UNDIFFERENTIATED MARKETING STRATEGY
Using an undifferentiated marketing strategy, a firm
might decide to ignore market segment differences and
go after the whole market with one offer. This can be
because there are weak segment differences or through
the belief that the product's appeal transcends segments.
The offer will focus on what is common in the needs of
consumers rather than on what is different. The company
designs a product and a marketing programme that
appeal to the largest number of buyers. It relies on
quality, mass distribution and mass advertising to give the
product a superior image in people's minds. Advertising
and promotions have to avoid alienating segments, and
so are often based on product features, like 'Polo, the
mint with the hole', or associated with a personality of
broad appeal, like Esso's tiger.
ZAKIR HUSSAIN DELHI COLLEGE
Parece que tiene un bloqueador de anuncios ejecutándose. Poniendo SlideShare en la lista blanca de su bloqueador de anuncios, está apoyando a nuestra comunidad de creadores de contenidos.
¿Odia los anuncios?
Hemos actualizado nuestra política de privacidad.
Hemos actualizado su política de privacidad para cumplir con las cambiantes normativas de privacidad internacionales y para ofrecerle información sobre las limitadas formas en las que utilizamos sus datos.
Puede leer los detalles a continuación. Al aceptar, usted acepta la política de privacidad actualizada.