Write a note on Target Marketing

Target Marketing

Target Marketing recognizes that different groups of customers have different needs and might also desire different core benefits from the same service. It sought the different needs and preferences of the consumers and instead of trying to satisfy them with the same type of services, the firm designed complete marketing programmes for each of these sub-groups.

Benefits of Target Marketing

• The market size is large and the service firm may not have sufficient resources to address it, neither would it perhaps want to do so.
• Customers are scattered all over the geographical spread, making it practically impossible to reach every potential buyer. Targeting was far more cost-effective.
• Competitors are enrrenched, making entry and survival difficult’ Therefore, smaller firms can seek niche or specialized markets.
• Customer requirements from the service vary widely’. Targeting a segment or two – to the exclusion of the rest – increases the chances of meeting most of customers’ demands.
• It generated customer loyalty.