TARGET MARKET'S & STRATEGY: SECTION 3.0

Service Description

When marketing a product or service, it is essential to identify the target market. This can be done by segmenting the market based on various criteria. Some of these are gender, age, income level, race, education level, religion, marital status, and geographic location. Consumers with the same demographics tend to value the same products and services, which is why narrowing down the segments is one of the most important factors in determining target markets. Once the target market has been identified, businesses can tailor their marketing strategies to appeal to that particular group. For example, a company selling luxury cars would likely target high-income consumers, while a company selling children's toys would target parents with young children. By understanding the needs and wants of their target market, businesses can develop targeted marketing campaigns that are more likely to result in sales.