Target Marketing Strategy Guide
How much do you know about target marketing strategy? Whether you know a lot or very little, it is always good to know a few marketing strategy tips. Marketing is focused on creating interest in a company’s products and services and building good relationships with customers. Therefore, the marketing tag line is to ‘identify, satisfy and solidify’. In this article, you will find a target marketing strategy guide to include mass market, single-market and multi-segment. After you have finished reading, you will leave with insight about how to determine a target market. Get More Information
A target market is a specific group of customers for whom a company has designed a blend of product, price, place and promotion. A company may use any of the following strategies:
• Mass market
A mass marketing strategy views all customers as similar and sees the entire market as a single segment. In employing this strategy, a company is seeking to reach everyone in the market. Therefore, it utilizes one product, one pricing structure, one distribution channel and one promotional strategy to achieve its goal. A company choosing this target marketing strategy could opt to use internet article marketing as its single promotional strategy. Article marketing provides the opportunity of reaching a mass audience as articles are placed on several directories. Web users can obtain product or service information while browsing the internet.
A single-segment approach identifies one segment of the total market and a marketing strategy is designed for this group. This necessitates a mix of product, price, place and promotion to satisfy this segment. For example, makers of Rolls Royce focus their attention on a particular market segment – high income earners. Again, companies who chose this strategy can use internet article marketing as one of its promotional tools. Through the use of article directories such as EzineArticles.com, customers can find specific information in specific categories. Since internet article marketers know their target market, they can post articles on websites where they know that persons have a related interest.
A multi-segment marketing strategy focuses on several different groups of potential customers as the target markets. This approach requires the design of a separate product, price, place and promotion for each group. Usually, companies that pursue this strategy tend to develop a product line offering customers the option of choosing the product which best serves their needs. For example, some tablet manufacturers have a line which serves adults, children and other customers which may have special needs. Article marketing can be included in a promotional campaign as articles can be posted on sites that appeal to different groups.
Since the aim of marketing is to get, satisfy and keep customers, targeting specific groups will enhance customer satisfaction and retention. This is important as customers have different buying behavior and utilize products and services differently. Therefore, an appropriate marketing strategy is crucial to a successful marketing campaign. Throughout, we saw that article marketing is a versatile promotional tool for any target marketing strategy which a company may choose to pursue.