(Riaz & Tanveer (n.d); Goi (2011) and Muala & Qurneh (2012)).
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. Factors applied in the audit identify the company's weaknesses and strengths, company's current client base and current marketing techniques. This profile typically describes the similarities between consumers within each segment and the differences between consumers across each of the segments. According to, (Hamlin, Knight and Cuthbert, 2015),There are different ways for firms to identify their niche market, but the most common method applied for finding out a niche is by using a marketing audit. So a product or company doesn't have to be close to where its customer base is but instead they just have to make their product as available as possible. However, there are also negative aspects to mass marketing as not everyone thinks the same so it would be extremely difficult to get the same message across to a huge number of people (Ramya & Subasakthi). Accordingly, analysts have turned to more objective measures of segment attractiveness. Yet, the diversity of foreign markets in terms of their market attractiveness and risk profile, complicates the process of selecting which markets to enter and which consumers to target. A butt or mark to shoot at, as for practice, or to test the accuracy of a firearm, or the force of a projectile. A target market is a group of customers (individuals, households or organisations), for which an organisation designs, implements and maintains a marketing mix suitable for the needs and preferences of that group.Target marketing goes against the grain of mass marketing. Differentiated marketing is a practice in which different messages are advertised to appeal to certain groups of people within the target market (Ramya & Subasakthi). These biological targets are conserved across species, making pharmaceutical pollution of the environment a danger to species who possess the same targets.part of an organism targeted by a ligand or drug to affect behavior These include:Segmentation and targeting for international markets is a critical success factor in international expansion.
1: develop a marketing plan; 2: focus your marketing program; 3: niche to compete against larger firms; 4: niche based upon expertise; 5: develop niches through mergers.Developing a market plan is when a firms marketing team evaluates the firms current condition, what niches the company would want to target and any potential competition. Firms use direct marketing a communication channel to interact and reach out to their existing consumers (Asllani & Halstead, 2015).
It involves identifying and selecting specific segments for special attention.Examples of target markets used in practice include:Selection of a target market (or target markets) is part of the overall process known as The first step in the S-T-P process is market segmentation. The primary use of the segment profile is to assess the extent to which a firm's offerings meet the needs of different segments. Once a firm's niche is identified, a team or marketers can then apply relevant marketing to satisfy that niche's wants and demands.Niche marketing also closely interlinks with direct marketing as direct marketing can easily be implemented on niches within target markets for a more effective marketing approach. Markets generally fall into two broad types, namely Market segmentation is the process of dividing a total available market, using one of a number of key bases for segmenting such as demographic, geographic, psychographic, behavioural or needs-based segments. This may involve carrying out additional The choice of a suitable target market is one of the final steps in the Occasionally a business may select more than one segment as the focus of its activities, in which case, it would normally identify a Selecting the "right" target market is a complex and difficult decision. An important tool that organisations use in direct marketing is the Digital communications have allowed marketers to segment markets at ever tighter levels - right down to the individual consumer.Hyper-segmentation relies on extensive information technology, big databases, computerized and flexible manufacturing systems, and integrated distribution systems. Promotion refers to "the marketing communication used to make the offer known to potential customers and persuade them to investigate it further".Marketers have outlined five basic strategies to the segmentation and the identification of target markets: undifferentiated marketing or Undifferentiated marketing/Mass marketing is a method which is used to target as many people as possible to advertise one message that marketers want the target market to know (Ramya & Subasakthi). Take careful aim at the target. Targeting decisions in international markets have an additional layer of complexity. A market plan can consist of elements such as, target market, consumer interests, and resources; it must be specific and key to that group of consumers as that is the speciality of niche marketing.Focusing your marketing program is when employees are using marketing tools and skills to best of their abilities to maximise market awareness for the company.
Louvieris, P., Driver, J. For example, the potential market or TAM for feminine sanitary products might be defined as all women aged 14–50 years.