As we saw in the article " The STP Belgium Phone Number List Marketing Model in Plain Language (Cutler's Attractive Proposal!)", you cannot please all customers.
Cutler believes that because the characteristics, needs and interests of customers are many and varied, a business cannot serve all customers in a wide Belgium Phone Number List market.
This issue is the foundation of the STP marketing model, which ends in determining the target Belgium Phone Number List market; It means choosing a part of the market that can be served effectively.
But what is meant by the target market? What patterns do we have for Belgium Phone Number List market segmentation? How and on what basis to divide the market into several parts?
In this article, we are going to answer all these questions with the help of Kotler's "Marketing Management" book; So stay with us until the end of the article!
Table of Contents
What is the definition of the target Belgium Phone Number List market?
Market segmentation methods to determine the target market
What level of the market to cover?
How to know our target market?
What is the definition of the target Belgium Phone Number List market?
Let us quote the same statement from Cutler:
A target market is a group of people with common needs and characteristics that a business decides to serve.
Simply put, your products are made for this set of buyers and they are made for your product.
For example, suppose your product is car tires. In that case, is this product made for someone who doesn't have a car?
Kotler believes that Belgium Phone Number List marketing is based on 4 pillars
target market
Customer needs
Integrated Marketing
profitability
In other words, marketing starts with a defined market , focuses on customer needs , coordinates all activities and tasks that affect the customer's decision, and finally, by satisfying the customer , leads to profit.
Cutler believes that the business performs best when it defines its target markets carefully and has a marketing plan that fits them.
Don't forget, according to Cutler, it can be said that Belgium Phone Number List marketing is nothing but meeting needs in a way that is profitable for business. Until we know who we are going to serve, nothing like this will happen.
The characteristics of the target market will vary depending on the product, and likewise, the characteristics of the product you are marketing will vary depending on the chosen target Belgium Phone Number List market.
For example, when determining the target market for a product like "lipstick", the "gender" component is probably very important. In that aspect, determining the target market for a product like "diamond ring" is highly dependent on "social status and position".
These 2 examples show enough how the determination of the Belgium Phone Number List marketing strategy is tied to the target market.
But you may have an important question that the target audience is different from the target market or not? In the next section, I will address this issue.
Suggested article: What is the definition of marketing ? (Examination of the main concepts of marketing from Kotler's point of view)
What is the difference between the target audience and the target market?
A target market is the largest group of people you want to reach; What is the basis of important decisions about product type, distribution channels, pricing and promotion.
For example, the target market of a "always discount hypermarket" is a group of people who are probably more than anything looking to buy life necessities at the lowest prices and do not pay attention to other things such as quality. On the other hand, they live near the store.
But the "target audience" is the subset of the target market that you want to communicate with through a specific message or advertisement. You usually want to lead this person to a specific product or service.
Determining the target audience plays an important role in deciding how to communicate: what to say, when, where, and to whom.
What is the difference between target audience and target market?
The target audience can be a potential customer or someone who is your current customer. This issue is also effective in the way of communication.
For example, always consider the same hypermarket that has decided to increase the sale of "sanitary strips" through SMS advertising.
In this situation, the target audience is young women who live near it and are looking for a discount or low price purchase; It means a part (segment) of the same target market .
Post a Comment