Target Marketing Strategy

Marketing is an important feature that plays a vital role in the functioning of the company. If the product is not marketed in the right way and not reaching the final customer, the company fracasará. For this reason, the marketing strategies play a crucial role. While the marketing of a product, the company has to decide a target market. Target market is not anything other than the specific set of audience that the manufactured product is intended to serve. Target market is more like split the vast sea of customers into smaller segments and the use of the 4 PS of marketing (product, price, place and promotion) in this segment in an effective way to achieve maximum sales and profits. Target marketing strategy helps make this subset of the population of clients that are more likely to purchase and use the product.

How to identify a target market

The entire concept of target marketing should lower the fact that may not please everyone! A market target, unlike the total marketing does not deliver a single product for the entire market. Instead, marks a specific range of persons to which the product must be effectively marketed to. As a marketing professional you must correctly identify the target market and exploit the greatest possible gain. To identify the target market you will need to look at the product manufactured and sold. Ask some questions:

▲ What this product?

▲ Who is useful?

▲ What regions of the world will accept this product?

How to divide the market into segments

To refer to a sector in particular, the whole market has to be first divided according to different criteria. This can be done in the following ways:

Demographic segmentation: this segment consists of the categorisation of clients depending on factors such as age, income, size of family, gender, education, nationality, race, etc.

Geographic segmentation: as we already read previously, based on region segmentation is important when dealing with specific products as refrigerators of the desert, coats of skin, blankets, waterproof snow boots, etc, weather conditions will determine the area of destination.

Behavior segmentation: This form of segmentation clubs factors as loyalty to the brand and the value of quality. For example, several it companies market their products specifically to customers loyal to their products. On the other hand, some companies their products on a larger scale to guide people that we appreciate, we value and they are willing to pay extra money for valuable pieces.

The psychographic segmentation: this type of categorization implies clubbing of the interests of the people, lifestyles and personalities.

Technographic segmentation: This type of segmentation that distinguishes people based on the technology used. Technology increasingly a part so ingrained in our lives, technographic segmentation becomes even more important.

These five types of segmentation are only the broader approach of slicing a market into segments. Even if it has that demographically, within it, will once again have to segment the market. Most sellers use a combination of these types of segmentation to reduce at the most effective target market.

Here are some simple examples:

Low waist jeans: product cater to the taste buds of the generation young, teenage fashion. Thus, the target market is based on the age group of 14-25 years of age. In addition to the demographic segmentation, also must be in mind the geographic segmentation, since not all countries accept this product. The Arab countries have a strict dress code and these products are not sold there.

Cosmetics: Cosmetics are gender-based, exclusively for men or women, therefore, the segmentation based on sex that has to be done. However, only between the market on the basis of gender is not enough. Lifestyles of men and women come into play, because cosmetics come in all ranges and therefore depending on the cost of the product, it will be necessary the psychographic segmentation and behavioral.

Desert coolers: If your company is the sale of desert coolers, it is more than obvious that the target market will be very hot in the world and not cold regions.

Baby products: sellers who sell products for babies should segment their market in terms of age groups, but we must also consider the physchographic segmentation, because the sales will depend on the way of life of the parents. If parents have a luxurious lifestyle, will be d

Marketing Menus and Yelp Ratings.

A number of articles recently proclaimed the economic benefit of restaurant reviews. Not unusually, many of them cited identical assertions that could be traced back to the original press release.

Being something of a sceptic regarding both the reporting of academic papers and the power of anonymous recommendation, I emailed one of the authors at Berkeley to try to understand if what was reported was what he had claimed. He pointed me to this article by way of a good summary.

My logic is that better restaurants will be fuller because they are better restaurants and that any ratings they garner will follow that and not vice versa. I also believe that people are more likely to pay attention to the views of trusted friends or proven professional reviewers than crowd-sourced averages and, having consulted an old professor of mine, I remain unconvinced that the study has proven any real causality. We both agreed that to do so would require a longitudinal study of the relation between a restaurant's success and its changing ratings over time.

That said, the study is not the problem, my real concern is not with the study but with the dissemination of the headline and how innumerate marketers will translate that into promotion mode. It will lead to the gaming of ratings rather than the improvement of the rated and all because of a claim that people far smarter than they never made. Evidence-based marketing has a long way to go. Understanding the evidence is a good place to start.