A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place(distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace.
Once these distinct customers have been defined, a marketing mix strategy of product, distribution, promotion and price can be built for your business to satisfy the target market.
A principal concept in target marketing is that those who are targeted show a strong affinity or brand loyalty to that particular brand. Target Marketing is a technique which allows to customize a message to the targeted group of consumers in a more focused manner in order to increase your sales. Target marketing can be the key to a small business’s success.
The beauty of target marketing is that it makes the promotion, pricing and distribution of your products and/or services easier and more cost-effective. Target marketing provides a focus to all of your marketing activities.
Here at WBCT Consulting, we will do target marketing for you, or we can teach you how to do it yourself. There are few various techniques to target marketing and these depend on the product, distribution, price and few other factors. Don't worry, WBCT Consulting will define those factors that are pertinent to your business and help you grow your business.