Advertising Management – Meaning and Important Concepts
Advertising simply put is telling and selling the product. Advertising Management though is a complex process of employing various media to sell a product or service. This process begins quite early from the marketing research and encompasses the media campaigns that help sell the product. Without an effective advertising management process in place, the media […]
Benefits of Cloud CRM for Small Businesses
CRM or Customer Relationship Management is a concept all businesses practice day in and day out. In fact, a business is found on managing customers and hence CRM ought to be the business strategy instead of being a part of business strategy. If you are a small business owner, it is vital that you get […]
Key Metrics for Evaluating Social Media Performance
Measuring the success of social media efforts goes beyond counting likes or shares. To truly understand the impact of your strategies, it’s essential to track meaningful metrics that align with your business goals. These metrics provide valuable insights into what’s working, what’s not, and how you can adjust your approach for better results. Why Metrics […]
The Argument for Sweatshops
The term “sweatshops” has been used a lot by the American media or the media in developed nations at large. The sweatshops refer to subcontracting arrangements that big multinational firms like Nike and Adidas have with subcontractors in third world countries like Bangladesh. The provisions are made to exploit the low cost of labor present […]
How the race for Eyeball Views, Clicks, Likes, and Shares defines Online Marketing
What is online marketing and how it Works? Ever wondered how websites give away much for free or for low prices and offer lots of information and other such conveniences? Did you ever felt the need to know how online marketing works with terms such as clicks, click through, eyeball views, and likes and shares […]
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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