Market Targeting

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Information about Market Targeting
Education

Published on February 22, 2014

Author: kumarprashantgupta

Source: slideshare.net

MARKET TARGETING

TARGETING Targeting is the actual selection of the segment you want to serve. The target market is the group of people or organizations whose needs a product is specifically designed to satisfy

EVALUATING TARGET SEGMENTS Size Expected Growth • How large is this target market? Worth pursuing? • Even if the market is small, it may be profitable if there are indications that it will grow. Competitive Position • Low competition equals attractive market Cost to Reach • Is this market accessible with our tactics? Compatibility • How aligned is this market to our goals?

TARGET MARKETING Undifferentiated Mass Marketing Targeting broadly Differentiated Segmented Marketing Concentrated Niche Marketing Micromarketing (local or individual) Targeting narrowly

TARGET MARKET PATTERNS Single Segment Concentration Selective Specialisation Product Specialisation M1 M1 M1 M2 M3 M2 M3 P1 P1 P1 P2 P2 P2 P3 P3 M2 P3 WOODLAND McDONALDS Market Specialisation M1 P1 M3 M2 BAJAJ Full Market Coverage M1 M2 M3 M3 P1 P2 P2 P3 P3 HIMALAYAN COKE M3

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