What is a tertiary market segment?

Key Takeaways. The tertiary industry is the services sector of an economy, encompassing medical providers, educators, financial services, haircuts, and personal trainers, among many others. The tertiary sector can be subdivided broadly into for-profit and nonprofit segments.

What is secondary market target?

The secondary target market refers to the second most important category of consumers who need your product or service. The primary and secondary target markets can be interdependent such as in situations where products appeal to both parents and children.

What are primary secondary and tertiary target markets?

The Differences Between Primary and Secondary Target Markets

Primary target market: These are the people who are most likely to buy from your company. … Tertiary target market: These are the people who may be interested in your products and services but do not have any urgency in making a purchase.

What are the 4 target markets?

The four main types of market segmentation are: Demographic segmentation: age, gender, education, marital status, race, religion, etc. Psychographic segmentation: values, beliefs, interests, personality, lifestyle, etc. Behavioral segmentation: purchasing or spending habits, user status, brand interactions, etc.

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 is primary & secondary market?

The primary market is where securities are created, while the secondary market is where those securities are traded by investors. … The secondary market is basically the stock market and refers to the New York Stock Exchange, the Nasdaq, and other exchanges worldwide.

What is a type of target market?

A target market is a group of people that share common characteristics. Marketers group these market segments based on psychographic and demographic information such as, age, gender, race, income, family size, marital status, political views, personal values, hobbies, and attitudes toward current trends.

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.

How do I determine my target market?

How to identify your target market
  1. Analyze your offerings. Ask yourself what problems your products and services solve, and, in turn, to whom they appeal. …
  2. Conduct market research. …
  3. Create customer profiles and market segments. …
  4. Assess the competition.

Is demographics and target market the same?

A target market, meanwhile, consists of the people who are most likely to purchase your product or service. And they are distinguished by their demographic qualities. Put another way, their demographic profile defines them as a target market.

Who is Nike’s target market?

Nike’s target market includes a demographic of those aged 11-45 but put a greater emphasis on teens to cultivate long-term customers. Their psychographic segment includes active, fashionable individuals that consider physical activity as part of their lifestyle.

What is the target market of a restaurant?

Your target market is the group of consumers – in this case, diners – whom you will aim to attract. They are people who are most likely to buy what you’re selling. The target customer of your restaurant is a specific segment of the larger dining market.

What is the target market for grocery stores?

Two examples of grocery store target markets could be “households earning over $100 thousand per year who prefer organic products, shop in bulk and live within twenty-five miles of the store” or “households earning near the poverty level who shop for the best deals, buy in small batches and live within a ten-mile …

What is Starbucks target market?

Its target demographic is urban and affluent, often on-the-go white-collar professionals looking to take their caffeine fix with them to the office. The company considers its core customers to be educated, with an average age of 42, and average income of $90,000.

Who is Adidas target audience?

Adidas uses differentiated targeting strategy to target young adults, adults as well as children who have passion for fitness & sports. Although it targets customers in the age group of 13-40 years but majority of its customers are of 15-30 years of age who hail from upper middle class or the luxury class of customers.

What does Nike stand for?

Winged Goddess of Victory
In Greek mythology, Nike is the Winged Goddess of Victory. The logo is derived from goddess’ wing,’swoosh’, which symbolises the sound of speed, movement, power and motivation.

What is Dunkin Donuts target market?

Dunkin’ Donuts’ target audience is people ages 18 to 54, who lead busy lives and tend to live healthy lifestyles. Dunkin’ Donuts current media plan does not effectively convey its message to the target audience through commercials.

Who is Starbucks target market 2021?

The target age of Starbucks’ market is 22 to 60, with the teen audience growing steadily. Even the 50- and 60-year-olds rely on their smartphones to make their lives easier.

What is the market position of Dunkin Donuts?

Positioning. Dunkin Donuts is positioning itself as a brand of choice nationally and internationally. The company’s philosophy is “make and serve the freshest, most delicious coffee and donuts quickly and courteously in modern, well-merchandised stores” (DD IP Holder LLC, 2010).

What age eats the most donuts?

The most donuts are consumed by children between 11-18 years old, and smaller quantities are being given to 4-10 years old kids.