What are market targeting strategies?

The selection of potential customers to whom a business wishes to sell products or services. The targeting strategy involves segmenting the market, choosing which segments of the market are appropriate, and determining the products that will be offered in each segment.

What are the 4 target market strategies?

Strategies for segmenting and targeting. Marketers have outlined five basic strategies to the segmentation and the identification of target markets: undifferentiated marketing or mass marketing, differentiated marketing, concentrated marketing (niche marketing) and micromarketing (hyper-segmentation).

What are the 3 target market strategies?

The three strategies for selecting target markets are pursuing entire markets with one marketing mix, concentrating on one segment, or pursuing multiple market segments with multiple marketing mixes.

What are some examples of target markets?

Target Market Examples
  • Nike Target Market. Nike sells apparel, equipment, shoes, and accessories to athletes and people who play sports. …
  • Netflix Target Market. …
  • Lego Target Market. …
  • Vans Target Market. …
  • Dior Target Market. …
  • Coachella Target Market.

What’s a target market example?

A target market is the segment of consumers most likely to want or need a business’s products or services. This group of people is a subset of the business’s total market. … For example, a children’s toy may have boys ages 9–11 as the target market and the boys’ parents as the target audience.

What are the 5 target markets?

These include gender, age, income level, race, education, 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 to determine target markets.

What are the 5 common positioning strategies?

There are five main strategies upon which businesses can base their positioning.
  • Positioning based on product characteristics. …
  • Positioning based on price. …
  • Positioning based on quality or luxury. …
  • Positioning based on product use or application. …
  • Positioning based on the competition.

What is market targeting and positioning explain with suitable example?

STP marketing (Segmentation, Targeting, and Positioning) is a three-step marketing framework. With the STP process, you segment your market, target your customers, and position your offering to each segment. What is an example of STP? The most classic example of STP marketing is the Cola Wars of the 1980s.