What do you mean by market targeting?
Market targeting is a process of selecting the target market from the entire market.
Target market consists of group/groups of buyers to whom the company wants to satisfy or for whom product is manufactured, price is set, promotion efforts are made, and distribution network is prepared.
How do you describe your target audience?
A target audience profile is simply a specific group of customers most likely to respond positively to your promotions, products, and services. Often, your target audience analysis will be based on specific factors like location, age, income, and so on.
What is meant by targeting and positioning?
In marketing, segmenting, targeting and positioning (STP) is a broad framework that summarizes and simplifies the process of market segmentation. Targeting is the process of identifying the most attractive segments from the segmentation stage, usually the ones most profitable for the business.
What are the 3 target market strategies?
By breaking consumers into types, businesses can segment their marketing strategies for these different types or start by marketing to the most significant target group. Four ways to segment your target market are demographic, geographic, psychographic and behavioral segmentation.