Target Market Importance
June 8, 2017
Remember in gym class when the teachers chose to play dodge ball as the activity of the day? At least twenty rubber balls would be flung across the gym but you were unable to capture and stop all of them. You were only able to catch the flying balls coming in your direction, rather than the rubber balls on the other side of the room. Flying dodge balls is much like creating a target market. As a dodge ball player, you could only grasp the balls in your direction, just like how businesses can only capture the audience along their track. Catskill Marketing is equipped to narrow a company’s focus to grip a certain audience.
A target market is a group of consumers, with shared similarities, which a product or service is directed towards. It is vital for businesses to establish a given market to attract consumers rather than attempting to capture the entire market. Also, developing a specific group assists in creating an effective marketing strategy. Target markets allow for marketing campaigns to be specifically designed to capture their attention and draw them in. For example: if a business was targeting adolescents and young adults, then they would focus their marketing efforts around social media and technology.
Target markets can be determined by a variety of factors. One determinant is geographic location; when companies narrow down their consumer outreach by their organization’s location. Another determinant would be gender, if the product/service is only aimed more towards one sex. Lastly, age is a determinant that could create different target markets. Age segmenting is the most popular form due to different products appealing to different age groups. However, target markets could be broken down into a combination of determinants; such as an age group of four to ten years old and living in Warwick, New York. Businesses need to recognize that their product/service must correspond to their desired target market. A company would not want to target middle aged men for a lipstick company.
Businesses do not have time or resources to reach everyone about a product message. With the creation of a target market, marketing plans can focus mainly on consumers likely to purchase the product. Target markets allow for a funnel of research and budgets to reach the consumers with greatest potential.
When a company designates their marketing efforts to a certain target market, this is also more cost-effective. Target markets allow for marketing plans to strictly focus on capturing that audiences’ attention, versus capturing everyone’s attention. For example: if your target market is new mothers, find magazines that many new mothers buy instead of putting the business’s ad in every magazine for women.
Target markets are a vital tool for businesses to capture their desired consumers. Markets can be split and determined by several different factors from gender to location. When a business designates a target market, then the organization can get greater feedback from the specific group, rather than a population at large.
Catskill Marketing can narrow in on an organization’s target market to reach their audience in the correct form. Our marketing specialists can adapt to different target markets and have the tools to capture the audience. Catskill Marketing understands social media marketing; so, we know adults are mainly on Facebook as their social media outlet, while teenagers are using a variety of Instagram and Snapchat. Our marketing media also includes graphic design, photography, and video editing. Catskill Marketing comprehends the importance of a set target market and can reach your business’s market with our marketing communication skills.
April 25, 2018
April 25, 2018