Field Research – Definition and its Important Sources
Field Research deals with creation and collection of actual and authentic information by field of operation in any organization. The process involves determining what precise data is necessary and from where this information needs to be obtained. After determining this information the data is actually gathered. Thus this research technique is treated as the primary […]
Role Play by Consultative Salesman
Whenever you attend any sales seminar or workshops, in all probabilities you get to hear about consultative approach to selling. This buzz word has caught up in the recent past with all organizations. Historically business was always profit oriented and selling the product or service was more important for Organizations. Sales figures and bottom lines […]
PESTLE Analysis of the Global Aviation Industry
Introduction When we think of airlines, we usually think of luxury and opulence as well as comfort and convenience. However, beneath the veneer, the airlines worldwide are caught in a cycle of higher operating costs, lower profits, and decreasing margins because of the various factors discussed in this article. Though the passengers might not notice […]
Motivating the Sales Team
Sales Professionals play a pivotal role in generating revenues for the organization. They are the ones who are responsible for product promotion and making a particular brand popular amongst the end users. In simpler words, sales representatives are the true face of an organization. The individuals representing the sales and marketing vertical must be satisfied […]
Role of Planning, Plans and Planners in Mintzbergs Five Configurations
Role of Planning, Planners, and Plans The previous article discussed the five configurations of organizational structure that Mintzberg proposed as part of his theory. This article examines the role of planning, plans, and planners in each of the configuration. To start with planning is an important element of strategy whenever there is excessive standardization and […]
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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