International Retailing – Features and Challenges
International Retailing and branding has been one of the sectors that is seeing exponential growth. With increase in standard of living and disposable income, people in developing countries are getting exposed to international brands. Rise of internet and multi-media has further provided impetus to the dream of people to aspire for branded consumer goods. Along […]
Retail Fashion Advertising for Youth
The new age youth comprise a major chunk of potential market for the international fashion retailers and hence they tend to focus exclusively on this segment. Marketers have further divided the youth into kids, pre-teens, tweens and teens depending upon the age groups. Marketing and advertising aims to build brand awareness as well as promote […]
What is Consumer Behaviour – Meaning, Concepts, PPT
Before understanding consumer behaviour let us first go through few more terminologies: Who is a Consumer? Any individual who purchases goods and services from the market for his/her end-use is called a consumer. In simpler words a consumer is one who consumes goods and services available in the market. Example – Tom might purchase a […]
Role of User-Generated Content in Social Media Strategies
When it comes to social media strategy, user-generated content is one of the most impactful techniques you can use to connect with your audience. In general, people hate feeling like they are being sold to. However, if a friend or trusted source tells them about a new product they’re obsessed with, people are much more […]
Evolution of Retail: Indian Context
With revolutionary changes taking place in the worldwide economy and the growing importance of 24/7 operation of the business, the retail sector has been undergoing a paradigm shift across the world. The world of today has turned into a global village; consumerism is having a huge impact on the contemporary retail business, and technological advancements […]
Target market represents a group of individuals who have similar needs, perceptions and interests. They show inclination towards similar brands and respond equally to market fluctuations.
Individuals who think on the same lines and have similar preferences form the target audience. Target market includes individuals who have almost similar expectations from the organizations or marketers.
Obese individuals all across the globe look forward to cutting down their calorie intake. Marketers understood their need and came up with Kellogg’s K Special which promises to reduce weight in just two weeks. The target market for Kellogg’s K Special diet would include obese individuals.
Individuals who sweat more would be more interested in buying perfumes and deodorants with a strong and lasting fragrance.
It is essential for the organizations or marketers to identify the set of people whom they want to target ?. Marketers must understand the needs and expectations of the individuals to create its target market.
The target audience must have similar needs, interests and expectations.
Similar products and brands should entice the individuals comprising the target market.
Same taglines and advertisements attract the attention of the target audience and prompt them to buy.
To select a target market, it is essential for the organizations to study the following factors:
Always remember you would never be successful if you try to impress everyone. Be specific.
Identify individuals who show similar characteristics. Put them in one group to create target market within a broad market.
Let us go through the below example:
Why do people use soaps ?
Some would use it against body odourIn the above case the product is same but the needs of the individuals are different. Consumers have different reasons as to why they use soaps.
Target Audience 1
Against body odour - Soaps with a strong and lasting fragrance.
Target Audience 2
To fight germs and infections - Soaps with medicinal properties
Target Audience 3
For a whiter skin - Soaps which improve the skin tone of individuals.
Target Audience 4
For a younger looking skin - Soaps which help get rid of wrinkles and fine lines of ageing
Individuals with identical requirements form the target audience. A 20 year old girl can’t be targeted along with someone who is 50 years old.
Online matrimony sites target young individuals aspiring to get married. The organizations strive hard to fulfil their expectations by providing suitable matches.
Other important factors like climatic conditions and geographical locations also play an important role in deciding the target market.
Deodorants and perfumes sell like hot cakes in humid and warm places.
Target Market for Beverages
Bournvita, Complan, Maltova, Boost - Growing kids
Soft drinks (Pepsi, Coke) - Teenagers
Fruit Juice (Real, Tropicana) - Health conscious individuals
Energy Drinks(Red bull) - Professionals, Office goers
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