Target Group

23問 • 1年前

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is the general potential customers who a business aims to reach with its products or services as they share common characteristics such as age, gender, income level, education, interests, or geographic location that make them more likely to be interested in and purchase from a business.

Target Market

Methods of Market Segmentation

Demographic Segmentation Geographic Segmentation Behavioral Segmentation Psychographic segmentation

process of dividing a market into smaller groups based on demographic variables

Demographic Segmentation

demographic variables such as:

Gender Income Religion and Race Age or Generation

a marketing strategy used to target products or services at people who live in, shop at, a particular location.

Geographic Segmentation

Under of Geographic Segmentation

Location Climate Culture Population

is a type of segmentation that focuses on how consumers interact and engage with products and brands.

Behavioral Segmentation

is a type of segmentation that focuses on customer personalities and interests.

Psychographic Segmentation

3 groups that influence buying behavior in Psychographic Segmentation:

Lifestyle Personality Values

A person's lifestyle provides insight on what they value, or how they spend their money. Marketers analyze three lifestyle dimensions commonly called

AIO (Activities, Interest, Opinion)

AIO stand for?

Activities Interest Opinions

Segmentation enables you to learn more about your audience so you can better tailor your messaging to their preferences and needs.

Benefits of Market Segmentation

Improved Focus on the "Important" Customers Improved product development Higher profitability Improved brand loyalty

By dividing the market into smaller groups, businesses can learn more about their customers unique needs and preferences,

Improved Focus on the "Important" Customers

➤Companies can create products or services tailored to specific segments, ensuring they meet the exact needs of their target customers.

Improved product development

When businesses target the right customers with the right products, they can increase sales and reduce wasted resources, leading to better profits

Higher Profitability

Customers are more loyal to a brand that instinctively understands their preferences and solves their unique problems. When you know what your target audience wants or needs, you can communicate messages that resonate with them.

Improved Brand Loyalty

It is the process of deciding and communicating how you want your market to think and feel about your product.

Product Positioning

Four Common Target Market Strategies:

Mass (undifferentiated) Marketing Differentiated Marketing Niche Marketing Micro Marketing

is a strategy where a business creates a single marketing campaign to appeal to the entire market, without targeting specific segments.

Mass Marketing

is a strategy where a business targets multiple market segments and creates distinct marketing campaigns tailored to each segment.

Differentiated Marketing

a strategy where a company focuses on a specific, well defined segment of the market that has unique needs or preferences.

Niche Marketing

is a highly targeted marketing strategy that focuses on a specific group of consumers, often as small as an individual or a local community,

Micro Marketing

Module 6 UTS

Angel Holivelle Carasco · 32問 · 1年前

Module 6 UTS