Marketing Mix Analysis for Entry of a Microwave Maker
February 12, 2025
Introduction Amazon is the world’s leading online retailer and its success has spurred other physical, brick, and mortar retailers to have an online presence. It is often referred to as the online equivalent of Wal-Mart because of its reach and global footprint as well as its aggressive pricing strategies. Amazon can leverage on several opportunities […]
The Dominant View: The Business of Business is Profits Ever since the modern corporation took shape in the form that it is now, there has been an overriding consensus that the corporation exists to serve its shareholders or stockholders. The late legendary economist of the Chicago School, Milton Friedman remarked that the “responsibility of business […]
The word shopping mall brings to mind certain specific kinds of images. For instance, as soon as the word mall is used, people start imagining a huge retail space filled with name brand departmental stores. Consumers have become used to these kinds of malls for the past 50 years. Also, in the initial years, both […]
Promoting a brand is more important than opening a store. It is essential to create brand awareness for the customers to know about the brand’s existence. The retailer must strive hard to communicate the USPs (Unique selling Proposition) of the brand to influence the buying behaviour of the customers. In simpler words, advertisements help the […]
Integrated marketing communication plays an integral role in communicating brand message to a larger audience. Integrated Marketing communication helps in integrating all essential components of marketing to communicate similar message to potential and existing end-users. Integrated marketing communication goes a long way in creating brand awareness among customers at a minimal cost. Integrated marketing communication […]
It is not possible for a marketer to have similar strategies for product promotion amongst all individuals. Kids do not get attracted towards products meant for adults and vice a versa. Every segment has a different need, interest and perception. No two segments can have the same ideologies or require a similar product.
Target Marketing refers to a concept in marketing which helps the marketers to divide the market into small units comprising of like minded people. Such segmentation helps the marketers to design specific strategies and techniques to promote a product amongst its target market. A target market refers to a group of individuals who are inclined towards similar products and respond to similar marketing techniques and promotional schemes.
Kellogg’s K Special mainly targets individuals who want to cut down on their calorie intake. The target market in such a case would be individuals who are obese. The strategies designed to promote K Special would not be the same in case of any other brand say Complan or Boost which majorly cater to teenagers and kids to help them in their overall development. The target market for Kellogg’s K Special would absolutely be different from Boost or Complan.
Jordan, a college student went to a nearby retail store to purchase a shirt for himself. The retailer tried hard to sell a nice formal shirt to him, but somehow could not convince Jordan. Jordan left the store sad and empty handed.
The problem is neither with Jordon nor the shirt. The retailer in this case failed to understand that Jordan, being a college student, was not the target audience for the formal shirt. No amount of convincing helped as the retailer was targeting the wrong audience. The target market for a formal shirt would be office goers or professionals. Funky T shirts, casual shirts would have worked better for Jordon.
The target market for Zodiac Clothing Company Limited or Louis Philippe would be the office goers whereas the target market for Levi’s would be the school and college kids.
The target market for Cat moss or Giny and Jony would be kids.
In simpler words, target market consists of like-minded individuals for whom an organization can afford to have similar strategies, promotional schemes and advertisements to entice them and prompt them to purchase the product. Once a company decides on its target audience, it implements various promotional strategies to make a brand popular amongst them.
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