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Marketing - Target Market

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This is a powerpoint presentation designed to be used in a Business Class. The focus of this presentation is on a Target Market and How to determine a Target Market. This presentation was desinged for educational purposes.

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Marketing - Target Market

  1. 1. Renjith Krishnan<br />
  2. 2. Target Market <br />Marketing Unit<br />jscreationzs<br />
  3. 3. What is a <br />Target Market? <br />
  4. 4. Target Market - A specific group of consumers at which a company aims its products and services <br />jscreationzs<br />
  5. 5. Target Market AKAMarket Segmentation<br />
  6. 6. Why is <br />determining a <br />Target Market <br />Important ?<br />
  7. 7. The better a company is at identifying their potential consumers; the more successful they will be in delivering products and services that are in demand<br />jscreationzs<br />
  8. 8. Your target consumers are those who are most likely to buy from you <br />Jcreationzs<br />
  9. 9. Focusing on a target market makes it easier to develop products people want<br />Renjjith Krishnan<br />
  10. 10. Who is the <br />Target Market ?<br />
  11. 11. Photostock<br />
  12. 12. Tina Phillips<br />
  13. 13. Andy Newson<br />
  14. 14. Louise<br />
  15. 15. Ambro<br />
  16. 16. Dan<br />
  17. 17. Photostock<br />
  18. 18. Photostock<br />
  19. 19. Ambro<br />
  20. 20. Ambro<br />
  21. 21. Getideka<br />
  22. 22. Photostock<br />
  23. 23. Photostock<br />
  24. 24. Louisa Stokes<br />
  25. 25. Photostock<br />
  26. 26. Photostock<br />
  27. 27. Photostock<br />
  28. 28. Photostock<br />
  29. 29. Photostock<br />
  30. 30. Photostock<br />
  31. 31. Photostock<br />
  32. 32. How do you<br />determine who <br />your target market is?<br />
  33. 33. Ask these questions …<br />
  34. 34. Is your product international, national, or local in scope? <br />Photostock<br />
  35. 35. Are your target consumers male or female?<br />
  36. 36. How old are they? <br />Photostock<br />
  37. 37. Are you target consumers single, married, or divorced ? <br />Salvatore vuono<br />
  38. 38. What level of education has your target consumers completed: high school, college, or university? <br />jscreationzs<br />
  39. 39. Where do they live? <br />
  40. 40. Is geography a limiting factor for any reason? <br />
  41. 41. What do they do for a living? <br />
  42. 42. How much money do they make? This is most significant if you're selling relatively expensive or luxury items. <br />Scott Chan<br />
  43. 43. What is there lifestyle like: conservative, exciting, trendy, economical?<br />
  44. 44. Are your target consumers easily led or opinionated? <br />
  45. 45. What are your target consumers activities and interests: sports, physical fitness, shopping, books? <br />
  46. 46. What other aspects of their lives matter? <br />
  47. 47. What are the three<br />basic reasons<br />people buy things ?<br />
  48. 48. To satisfy basic needs<br />Lugi dainami<br />Gt Pann<br />Jetkasettakorn<br />
  49. 49. To solve problems<br />Filomena Scalise<br />Renjjith Krishnan<br />
  50. 50. To make themselves feel good<br />
  51. 51. How do you start<br />to determine <br />your target market?<br />
  52. 52. Creating the target market may require the use of limited product roll-outs and focus groups, allowing product managers to get a feel for which aspects of the product are the strongest<br />
  53. 53. What is a Roll Out?<br />
  54. 54. Roll Out- The process of introducing a new product or service into the marketplace<br />
  55. 55. What is a <br />Focus Group?<br />
  56. 56. Focus Group - A small group selected from a wider population and sampled, as by open discussion, for its members' opinions about or emotional response to a particular subject or area, used especially in market research or political analysis<br />
  57. 57. Does your product<br />meet your <br />consumers, needs?<br />
  58. 58. No single product can meet everyone’s needs<br />More than 30 different varieties/flavors <br />
  59. 59. Not all products and services are meant for all types of consumers<br />Photostock<br />
  60. 60. Resist the temptation to be too general in the hopes of getting a larger slice of the market <br />Renjjith Krishnan<br />
  61. 61. That's like throwing 10 darts in random directions instead of aiming just one dead center of the mark!<br />jscreationzs<br />
  62. 62. What is the <br />Importance of <br />determining a<br />Target Market?<br />
  63. 63. The beauty of target marketing is that it makes the promotion, pricing and distribution of your products and/or services easier and more cost-effective<br />
  64. 64. Resources <br />Information<br />http://www.entrepreneur.com/encyclopedia/term/82498.html<br />http://sbinfocanada.about.com/cs/marketing/a/targetmarket_2.htm<br />http://www.answers.com/topic/focus-group#ixzz1HQx89zFu<br />Images<br />http://www.freedigitalphotos.net/<br />http://www.google.com/imghp?hl=en&tab=wi<br />**Please notice pictures are sited with artist name. All pictures not cited with artist name were obtained from Google images. <br />jscreationzs<br />

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