Targeted Marketing Contrivance

Targeted Marketing Contrivance is the Best way of increased competition in the industry markets. Increasing the number of players resulted in the increase in supply and a significant expansion of the range, there are make new chances of acquisition of goods, and the Markets were filled with similar products - substitutes. The concept of "Target Marketing" appeared in opposition to the concept of "Mass Marketing”, any new terms "Target Market", "differentiation", "Market niche."

In this topics we will talk about the process and the main stages of the use of Targeted Marketing, describe 5 types of Targeted Marketing contrivances that are used in the whole world practice and consider their use on examples known companies.

Targeted Marketing Contrivance:

Targeted Marketing Contrivance means developing individual marketing efforts for each Parts of the market, the study of the needs of different target groups and the formation of a special offer for each target market, the use of different advertising messages and techniques of product promotion in each Parts. Targeted Marketing concept often also referred to as "Separated" Marketing .

Using Targeted Marketing Contrivances, the company concentrates all its resources and efforts on one or a restricted number of Parts, select a target audience, which has a earmarked (different from the major parts) needs, and tries to be the best way to meet earmarked customer requirements, establishing for it a higher price .

Types of Target Market: 

Strategies differ in the number of product groups, displayed by the market, and the number of markets in which the company realizes the sale of goods. (Under the market is the private consumer group).

Targeted Marketing process:

To start the company to introduce the concept of Target Marketing in practice, it is essential to pass 3 basic steps : Market segmentation, Selection of Target Market Segments and Creation of product positioning.

Full Process of Segmentation:

Market Segmentation is performed to identify the differences in the qualification of individual consumer groups. The choice of target market segments is carried out in accordance with the capabilities and strengths of the company. Properly formulated product positioning conveys the necessary benefits from the achievement of the goods to the target audience.

Choose of Target Market:

You can use the simple and advantageous to select the Target Market GE / Mckinsey matrix that’s are helpful to choose the best business segment in terms of competitiveness of the goods of the company and the overall attractiveness of the market.

The Time when Targeted Marketing is Useful:

When a company chooses a Targeted Marketing approach in promoting their product as follows:

1.     The company is small in size and does not have resources for the construction of the mass distribution of Products and the use of mass communication channels

2.     A Market in which the company operates, the competitors and highly differentiated

3.     Target Market consumers vary Markedly according to their needs and there is no way to pleased them with a singular product

The Advantage of Targeted Marketing Contrivance for the Company:

Targeted Marketing Contrivance is able to generate a higher level of sales than contrivance unconditioned marketing, due to deeper penetration into Parts; able to generate greater customer loyalty through better meet the needs; It does not require a large initial investment, but it is more costly (per unit of production), as it requires the allocation of additional development costs, research, manufacturing and Goods support.

The advantages of Targeted Marketing for the company are obvious: such a Steps to avoid direct competition with Market leaders, Allows gradually strengthen its business and establish itself in the market through leadership in meeting the needs of niche; It allows you to win narrow customer segments, which together may form a good market share, but also helps to create the necessary investment and the resource base to access the larger Parts. 

Successful Targeted Marketers:

Targeted Marketing Contrivance used by almost every Successful company. Here are some examples:

Apple:  Apple is promoting its products among customers who require high quality and stability of the device; innovators who seek to use the most advanced technology;

McDonalds:  McDonalds Company Concentrate its production on 3 key of Parts: Children, young people and Modern families.

 

Manufacturers of sportswear and shoes promote their products among people with an interest in healthy living and dealing with any activity.

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