Group of people toward which an organization has decided to aim its marketing efforts
For the retail stores, see Target Corporation.
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A target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service.
The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM
Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind. This may involve carrying out additional consumer research in order to gain deep insights into the typical consumer's motivations, purchasing habits and media usage patterns.
The choice of a suitable target market is one of the final steps in the market segmentation process. The choice of a target market relies heavily on the marketer's judgement, after carrying out basic research to identify those segments with the greatest potential for the business.
Occasionally a business may select more than one segment as the focus of its activities, in which case, it would normally identify a primary target and a secondary target. Primary target markets are those market segments to which marketing efforts are primarily directed and where more of the business's resources are allocated, while secondary markets are often smaller segments or less vital to a product's success.
Selecting the "right" target market is a complex and difficult decision. However, a number of heuristics have been developed to assist with making this decision.
A targetmarket, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a...
advertising, the target audience is a particular group of consumer within the predetermined targetmarket, identified as the targets or recipients for...
become targetmarkets). Many different ways to segment a market have been identified. Business-to-business (B2B) sellers might segment the market into different...
February 2016. The Target clinics were also rebranded as MinuteClinic. The acquisition of the Target pharmacies enabled CVS to expand its market into Seattle...
the results of marketing research and market research, and the characteristics of the product's targetmarket. Once these factors are determined, marketers...
This Is Not the TargetMarket is the second album by New Zealand punk band Steriogram, released on February 12, 2007 by Toshiba EMI. It was their first...
Target, Allier, France Target Lake, a lake in Minnesota Targetmarket, marketing strategy Target audience, intended audience or readership of a publication...
campaign to carefully select channels based on where their target consumer spends time to ensure market and advertising efforts are maximized. Marketing professionals...
Demographic profile Market segmentation Mass marketing Niche market Precision marketing Serviceable available marketTargetmarket Steve Blank and Bob...
study for marketers and helps to divide the population into market segments and targetmarkets. An example of demography is classifying groups of people...
band released three studio albums Schmack! (2004), This Is Not the TargetMarket (2007) and Taping the Radio (2010). The band's 2004 international hit...
and channels used to make the product or service accessible to the targetmarket. It encompasses decisions related to distribution channels, retail locations...
interest rate target are made in response to various market indicators in an attempt to forecast economic trends and in so doing keep the market on track towards...
April 1998 as a new store and 'fast-fashion' concept, aimed at a young targetmarket. As of January 2022 has over 973 stores in 75 countries. The sales made...
Market entry strategy is a planned distribution and delivery method of goods or services to a new targetmarket. In the import and export of services...
and import it to the targetmarket. They then sell it at a price high enough to provide a profit but below the normal market price. International efforts...
Targeting may refer to: Gene targeting Protein targeting Behavioral targetingTargeted advertising Targetmarket Geotargeting, in internet marketing Targeting...
400 rpm when mated to a 6-speed automatic transmission, depending on targetmarket and emission specifications. With manual transmission, outputs are 177 PS...
in an existing market. It is measured by the amount of sales volume of an existing good or service compared to the total targetmarket for that product...
advertising budget, setting advertising objectives, determining the targetmarket, media strategy (which involves media planning), developing the message...
development to go to market. Product managers are responsible for ensuring that a product meets the needs of its targetmarket and contributes to the...
positioning. The company should also (re)select targetmarket segments and personas and define digital targeting approaches. After doing this effectively, it...
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