Downloaded 60 times
Uploaded byPrashant Kumar Gupta
Market Targeting
Targeting involves selecting the specific segment or group that a product is designed for. When evaluating potential target segments, companies consider the segment's size, expected growth, competitive position within the industry, the cost to reach customers in that segment, and how well the segment aligns with the company's goals. Targeting can range from undifferentiated mass marketing aimed at a broad audience to highly concentrated niche marketing targeted at a very small, specific group. Companies must determine which target market pattern is best, such as focusing on a single segment, selecting certain segments, specializing in specific products, or aiming for full market coverage.
More Related Content
Similar to Market Targeting
More from Prashant Kumar Gupta
Market Targeting
- 1.
- 2. TARGETING Targeting is theactual selection of the segment you want to serve. The target market is the group of people or organizations whose needs a product is specifically designed to satisfy
- 3. EVALUATING TARGET SEGMENTS Size Expected Growth • Howlarge is this target market? Worth pursuing? • Even if the market is small, it may be profitable if there are indications that it will grow. Competitive Position • Low competition equals attractive market Cost to Reach • Is this market accessible with our tactics? Compatibility • How aligned is this market to our goals?
- 4. TARGET MARKETING Undifferentiated Mass Marketing Targeting broadly DifferentiatedSegmented Marketing Concentrated Niche Marketing Micromarketing (local or individual) Targeting narrowly
- 5. TARGET MARKET PATTERNS SingleSegment Concentration Selective Specialisation Product Specialisation M1 M1 M1 M2 M3 M2 M3 P1 P1 P1 P2 P2 P2 P3 P3 M2 P3 WOODLAND McDONALDS Market Specialisation M1 P1 M3 M2 BAJAJ Full Market Coverage M1 M2 M3 M3 P1 P2 P2 P3 P3 HIMALAYAN COKE M3
- 6.