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Market Targeting

In: Other Topics

Submitted By ambyeer
Words 312
Pages 2
MARKET TARGETING As it is not possible to please everyone with the product as there are various people around world with various needs,various habits and so Market targeting works on a strategy in which a particular group is target and for that company can even concentrate on advertising,due to which they give more power to its brand.

The company can choose the various approach for targeting the customers. In undifferentiated approach the company try to attract every type of consumers dispite of various age,gender etc. The differentiated approach is an approach in which the company targets two or more groups . The third approach is the concentrated approach where the company targets only one specific group,but with this approach there involves a huge risk if the company looses the customers than there is chance for huge loss.

1. As the company targets the specific group of people ,so they had to prodce particular product . So this helps the company to obtain more accuracy in the work .
2. Due to targeting a particular group the company only needs to concentrate on the particular product and their mail goal lies in targeting only that group and nothing else and so they don’t try to make produce other than partular group which inturn reduces cost .

1. For the company to know as to attract and target which group of persons and by targeting which group will provide higgest profits and by knowing the behaviour of the customers,the company performs various researches and so for that the company had to spend money for this purpose.

2. At due to targeting a particular group for large time there is possibility that the new consumers don’t attract towards it,so the company had to modify the advertise campaigns and for that the cost also increases.…...

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