Target marketing

Target market is "a group of customers at whom an organization specifically aims its marketing effort." Targeting a market is a well-defined set of a customer whose needs the company plan to satisfy. The target market and the marketing mix are developed in relation to the marketing goal shown in the following figure 1

Target Market Fig1

A retailer's most important decision concerns the target market. Until the target market is defined and profiled, the retailer cannot make a consistent decision on product assortment; store decoration, furnishing; advertising messages and media; price level; and so on. Also, Wholesalers need to define their target market and not try to serve everyone. They can choose a target group of the customer according to size criteria (e.g.only large retailers), they of the customer (e.g.convenience food stores only), need for service (e.g., Customers who need credit), or other criteria. Within the target group, they can identify the more profitable customers and design stronger offers and build better relationships with them. They can propose automatic reordering systems, set up management-training and advisory systems,

and even sponsor a voluntary chain. They can discourage less profitable customers by requiring larger orders or adding surcharges to smaller ones.

FACTORS OF TARGET MARKET

THE TARGET MARKET NEEDS FOUR FACTORS.

1.The organization must need the product or services.

2. The organization must have the ability to purchase,

3.The organization must be willing to purchase

4. There must be authority to purchase.

Straight and narrow ways of target markets

Market-oriented managers develop marketing mixes for specific target markets. This is very different from production oriented managers who just see a mass market of customers who are pretty much the same. Target marketers aim at specific "somenodies." Getting the firm to focus on specific target markets is vital (see fig4 Straight and Narrow ways of Target Markets)