What is Market Targeting?
It is deciding the best segment from available options. Segmentation is grouping the customers as well as dividing the total market into various segments but targeting is choosing the best segments from available segments. Dividing customers into various groups on the basis of age is segmentation but producing and distributing products by focusing on the age group of 15 to 20 yrs is known as market targeting. So the target market is the outcome of the segmentation. The endpoint of the segmentation process is market targeting.
Levels of target market:
The organization should look after heterogeneous customer groups. There are 5 levels of the market. Following are the levels:
- Single-segment coverage
- Multi-segment coverage
- Product specialization
- Market Specialization
- Full Market Coverage
The market has various characteristics. It is divided into segments. The marketing mix is made for each segment. Hence, this is based on a new marketing concept.
Other Important Links
Meaning of segmentation: CLICK HERE
Process of segmentation: CLICK HERE
The benefits of segmentation: CLICK HERE
Job Vacancy in Nepal: CLICK HERE
