Target marketing
DESCRIPTION
A marketing approach involving evaluations of different market segments’ attractiveness and selecting one or more segments to enter.
A marketing approach involving evaluations of different market segments’ attractiveness and selecting one or more segments to enter.
KEY INSIGHTS
Target marketing involves the use of market segmentation for subsequently directing marketing efforts at one or more specific groups of customers considered beneficial or desirable by the marketer. The aim of target marketing is to identify the most viable segments—ones where a firm can profitably generate the most customer value and sustain such value over time. Through such focus, marketers are able to develop and provide offerings that may be positioned as attractive or appealing to the target market.
Target marketing involves the use of market segmentation for subsequently directing marketing efforts at one or more specific groups of customers considered beneficial or desirable by the marketer. The aim of target marketing is to identify the most viable segments—ones where a firm can profitably generate the most customer value and sustain such value over time. Through such focus, marketers are able to develop and provide offerings that may be positioned as attractive or appealing to the target market.
KEYWORDS Segment attractiveness
IMPLICATIONS
Target marketing necessarily involves effective targeting, one of the most important concepts in marketing. As such, marketers should strive to develop a strong working knowledge of targeting strategies along with a solid understanding of targeting’s conceptual and practical relationship with segmentation and positioning as a means to ensure the development and pursuit of viable marketing strategies.
Target marketing necessarily involves effective targeting, one of the most important concepts in marketing. As such, marketers should strive to develop a strong working knowledge of targeting strategies along with a solid understanding of targeting’s conceptual and practical relationship with segmentation and positioning as a means to ensure the development and pursuit of viable marketing strategies.
APPLICATION AREAS AND FURTHER READINGS
Marketing Strategy
Freeman, K. M. (1992). ‘Target Marketing: The Logic of It All,’ Journal of Consumer Marketing, 9(3), 15–18.
Freeman, K. M. (1992). ‘Target Marketing: The Logic of It All,’ Journal of Consumer Marketing, 9(3), 15–18.
Marketing Management
Smith, N. Craig, and Martin, Elizabeth Cooper (1997). ‘Ethics and Target Marketing: The Role of Product Harm and Consumer Vulnerability,’ Journal of Marketing, 61(3), July, 1–20.
Smith, N. Craig, and Martin, Elizabeth Cooper (1997). ‘Ethics and Target Marketing: The Role of Product Harm and Consumer Vulnerability,’ Journal of Marketing, 61(3), July, 1–20.
Marketing Research
Rossi, Peter E., McCulloch, Robert E., and Allenby, Greg M. (1996). ‘The Value of Purchase History Data in Target Marketing,’ Marketing Science, 15(4), 321–340.
Rossi, Peter E., McCulloch, Robert E., and Allenby, Greg M. (1996). ‘The Value of Purchase History Data in Target Marketing,’ Marketing Science, 15(4), 321–340.
Zahavi, J., and Levin, N. (1997). ‘Applying Neural Computing to Target Marketing,’ Journal of Direct Marketing, 11(1), 5–22.
Consumer Behavior
Aaker, J. L., Brumbaugh, A. M., and Grier, S. A. (2000). ‘Nontarget Markets and Viewer Distinctiveness: The Impact of Target Marketing on Advertising Attitudes,’ Journal of Consumer Psychology, 9(3), 127–140.
Aaker, J. L., Brumbaugh, A. M., and Grier, S. A. (2000). ‘Nontarget Markets and Viewer Distinctiveness: The Impact of Target Marketing on Advertising Attitudes,’ Journal of Consumer Psychology, 9(3), 127–140.
Ringold, Debra Jones (1995). ‘Social Criticisms of Target Marketing,’ American Behavioral Scientist, 38(4), 578–592.
BIBLIOGRAPHY
Dibb, Sally, and Simkin, Lyndon (1996). The Market Segmentation Workbook: Target Marketing for Marketing Managers. London: Routledge.
Dibb, Sally, and Simkin, Lyndon (1996). The Market Segmentation Workbook: Target Marketing for Marketing Managers. London: Routledge.
target profit pricing see pricing strategies