Target marketing is the heart and soul of any business especially small businesses. Target marketing is going after the best possibile option for selling your services/products. Target marketing may sound easy but it isnt. There is alot of thought and planning going into it.
The first thing one needs to do is evaluate and identify the market segment. The segment should have the opportunity to grow. Choosing the correct segment to target is of utmost importance if you are to succeed.
After identifying your desired segment evaluate the surroundings. Evaluate the competition, new entrants, buyers and suppliers. All play a major role and all need to be evaluated. The strategies and policies of competition should be studies to get an idea as to what they are offering and what will you offer which would deem more attractive to the customers. Buyers should also be evaluated as you dont want to sell a hot sports car to a busy housewife who drops her children to school everyday.
Finally after all the huff and puffs of evaluating its time to select the best possible segment.
In short Target marketing= best possible segment= most profit
more to follow. bye for now
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