Marketing - What is Target Marketing? (2 of 10)

Marketing is a broad concept. Target marketing allows you to focus on key issues and work with key components of marketing.

Target marketing would want us to define what our customers would like to have. You would need to establish the needs and wants of your target customers.

Target marketing goes further by studying the demographic of your targeted customers. In addition, we need to gather information about their changing lifestyles, their preference and their influence by new products or services. These products and services would be something that your customers have been long waiting to.

This is more crucial when you are in the fashion or food business. Changes are taking place in a short period. Target marketing terms it as product life cycle. This is getting shorter and shorter period.Target marketing also allows us to look into different targeted consumers. We can define them as teens’ products for age range 13 to 25; another range for age 25 to 40; lastly mature products for age 40 and above. Designing and developing the colour, the taste, the feeling or the expression of their image play an important role in target marketing.

Another example of target marketing is the credit card for lady, a different card for frequent traveler, a discount card for elderly or silver hair group. You would notice that the profile of each group is different. The Lady’s card is recognition for ladies and their spending power.

Likewise the credit card for frequent traveler, these group of consumers are looking at protection plan for travel, ease of transfer and transportation and on the move for goods and services.

You would note that target marketing really needs you to stay focus. Your design and development of products and service would cater to their preference and wants.

Target marketing requires you to study your target consumers’ lifestyles. Where do they like to shop and how they shop. What is the social setting that suits them well? What are their community norms? All these inputs are essential to target marketing.