The target market

Determination of Target Market Strategy

Determine the target market is becoming an essential part in business marketing strategy. There are several companies that want to reach consumers from all walks of life, but there are few companies that intentionally separates the target consumers according to market its products. With a clear target market, the company will make it easier to determine which product fits your needs and desires of consumers. Means also that the target market is a market that has buying power of consumers with considerable potential.

In the marketing world, there are three strategies targeting markets that often do the business, the strategy is as follows:

A. undifferentiated marketing

There are several companies that see the market as a whole without distinguishing specific target market. Companies that use this marketing strategy, offering only one kind of product and cover the whole market. Regardless of their target market, the company aims to instill a strong image of its products to consumers.

Marketing of selected target markets regardless of the business, because this strategy is smaller than the cost of marketing to distinguish the target market. Regardless of their marketing target market more rely on the production, distribution and promotion strategies in bulk, so it can cut costs.

But besides the advantages, the marketing strategy also has drawbacks. Most business people do not distinguish between the consumer, it will choose the target of the most extensive market for its product offering. If a lot of business people who choose this way, the competition was getting tougher business.

2. differentiated marketing

Marketing is second to distinguish target market according to customer needs. The wide variety of needs, consumers, businesses a motivating factor to distinguish their target market. If the marketing without the variants produce only one kind of product, marketing differentiator produces a wide range of products tailored to the needs and interests of consumers.

Product differentiation can be based on the geographical location of consumer, style or lifestyle, age, gender, income level, and even can also be distinguished based on their level of education of the consumer. Efforts to target market distinction is intended that consumer loyalty to a product more powerful, because the company offers products to fit the desires of consumers. Distinction can be exemplified from the target market of instant noodle products, they develop their business by differentiating products based on the tastes of flavors to consumers.

When compared to marketing without the variants, with a distinctive marketing strategy requires a greater cost. Because of the cost required for new product research, the greater the production process, as well as increased costs for market research. Nevertheless, the difference is more favored marketing the business. For a marketing differentiator, their products have a stronger appeal than the marketed products of competitors.

3. concentrated marketing

Unlike the marketing strategy that differentiates according to the needs of consumers, concentrated marketing focus to market their products only to one or several groups of buyers only. So that the marketing of products intended only to groups with the most potential buyers. Such products Tropicana Slim, low-calorie and sugar-free sugar is more focused on consumers who want to maintain their health, especially for people with diabetes.

With a focus on specific groups, companies use this marketing strategy of trying to offer the best products for their target market. So that the specification of the products offered image can be embedded in the target market of consumers. In addition it is also concentrated marketing savings, both production costs, distribution costs and promotional costs. For all of them only focus on one or two consumer groups only.

But there are also weaknesses of the marketing concentration, the risk is even greater than without differentiating marketing and marketing with a differentiator. If the target market is the focus of marketing arrived - arrived switch to a competitor with a similar focus, then you will lose one - the only field that you have customers. The magnitude of the risk, make business owners prefer to market their products to a target market.

For those of you who want to try a new business opportunity, you should first determine the target market you want to reach. The clearer your target market, the more easily you define the business development strategy. May be useful and successful greeting.

Opinion for this article : Target marketing is to be applied in any marketing procedures so that we can know how much the amount of income that we get within a specified time