What is target marketing?

Targeting

What is target marketing? We all know what a target is, but maybe not targeting!

Know that it is this term that I put in the spotlight in this article.

Laurent told me a lot about the subject yesterday in the cafeteria.

Among other things, he informed me that:

Targeting is the next step after segmentation in a marketing process. Its aim is to identify and choose market segments with high potential for profitability.

Definition of targeting

Targeting is the penultimate step in the strategic process. It consists of defining the market segments to be reached.

The goal is to identify the profiles that are most likely to be interested in the products and/or services offered by your company.

For information, the strategic approach consists of 3 stages, namely:

  • Segmentation (identification of needs, similar customer profiles, desired products, etc.),
  • Targeting (choice of segment (s)),
  • Positioning (product identification and differentiation).

Definitions Marketing also emphasizes that targeting should not be confused with segmentation, because it most often corresponds to a one-off marketing campaign situation.

In addition, there are 3 categories of targeting:

  • Differentiated marketing (offering a product to a single marketing target),
  • Mass marketing (offering a product to several segments),
  • The crossover approach (offering different products to several marketing targets).

It is up to you to choose the appropriate strategy according to your objectives, your resources, and your current position in the market.

What is marketing targeting used for?

The main objective of marketing targeting is to define market segments with high potential.

This will help you then define your marketing strategy, in order to better reach your targets.

The results are optimal if you focus on the profiles of consumers who have the most affinity with your products and/or services. You can help yourself by building a persona.

Once the segments have been defined, all you have to do is concentrate your efforts and resources according to their expectations.

Note: targeting verification is required if you plan to launch a new offer, invest in a new market, etc.

How to develop your marketing targeting?

To define the segment (s) to target, determine a certain number of points, among which:

  • The potential of the market,
  • The necessary investment cost,
  • The number of competing suppliers,
  • The number of competitors in this or these segments …

Depending on the result, you can opt for targeting:

  • Restricted, i.e. targeting a smaller segment with weak competition,
  • Or Large, which consists of turning to a segment with high potential for profitability, but with strong competition.

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