Target Marketing

Target Marketing Term Paper example
Undergraduate
Term Paper
Marketing
Pages 4 (1004 words)
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Target marketing is not all about breaking a market into various small segments and attracting the attention of the marketers. The implication of target marketing suggests that various considerations should be taken into account with the purpose of identifying the customer groups…

Introduction

Target marketing is not all about breaking a market into various small segments and attracting the attention of the marketers confining their focus on a few key sections of the market. The implication of target marketing suggests that various considerations should be taken into account with the purpose of identifying the customer groups who are to be targeted. It is worth mentioning that ‘Marketing’ is termed as the art of creating wants among people who gradually turns out as the potential customers of the product and/or services rendered. According to Smith (1956), segmentation of markets is focusing on customers with similar interest to that of the marketer, so that it becomes easier for the organization to develop beneficial communication and thus satisfy the customer need effectively. Target Marketing Approach Customers’ demand varies from one group to the other. Thus, the identification of these demands emerges to be quite challenging for the marketers implementing the target marketing approach. After identifying customer demands, marketers develop the product and various marketing strategies to satisfy the demand of the particular customer group(s) targeted. Thus, target marketing helps the company to identify their most potential customers. With this concern, marketers tend to emphasise on various aspects of market and human psychology which define the satisfaction and demand of targeted customers. ...
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