processes used to identify target markets
Audio Below.
TARGETING CONSUMERS:
Targeting consumers are social groups in which the business intends to appeal and sell their products to. This is done by advertising in areas where the social groups tend to be or advertising during times in which certain shows they watched are aired e.g advertising a commercial during after school hours to appeal to kids.
TARGET MARKETS:
Target markets refer to specific group that the business would like to target. A mass marketing approach is used to recognize that certain products appeal more to certain groups. This type of marketing is used to target large groups of people while niche marketing is used to target smaller groups of potential customers to sell products that are relatively small or exclusive e.g ski equipment an luxury cars.
PROCESSES USED TO IDENTIFY TARGET MARKETS:
The processes involved in gathering information on potential customers through surveys and focus groups (a group of potential customers chosen at random). Companies usually use market research to gather information about the needs and wants of potential customers. The information is then used to develop promotional campaigns that are specifically sued to target the intended audience.
Surveys are usually done in person or through the phone. The researcher will normally ask a series of question to identify the demography and social group the person belongs to before asking their opinion on certain products and services.
Targeting consumers are social groups in which the business intends to appeal and sell their products to. This is done by advertising in areas where the social groups tend to be or advertising during times in which certain shows they watched are aired e.g advertising a commercial during after school hours to appeal to kids.
TARGET MARKETS:
Target markets refer to specific group that the business would like to target. A mass marketing approach is used to recognize that certain products appeal more to certain groups. This type of marketing is used to target large groups of people while niche marketing is used to target smaller groups of potential customers to sell products that are relatively small or exclusive e.g ski equipment an luxury cars.
PROCESSES USED TO IDENTIFY TARGET MARKETS:
The processes involved in gathering information on potential customers through surveys and focus groups (a group of potential customers chosen at random). Companies usually use market research to gather information about the needs and wants of potential customers. The information is then used to develop promotional campaigns that are specifically sued to target the intended audience.
Surveys are usually done in person or through the phone. The researcher will normally ask a series of question to identify the demography and social group the person belongs to before asking their opinion on certain products and services.