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Target marketing is the practice of crafting marketing strategies for a particular customer segment. Any marketing strategy can be directed towards a target market including price, distribution, product development, branding, promotion, customer experience and sales strategy. The following are common types of target marketing.
Identifying a segment of customers who have common needs to offer functionality that meets those needs. For example, a travel insurance product for regular travelers that protects them for unlimited travel to most destinations for a year.Customer PreferencesCustomers who have similar product or service preferences. For example, a mobile phone for customers who are concerned about privacy.
ValuesTargeting customers who have similar ethics and values such as a furniture designer who produces products from upcycled parts that appeals to reuse enthusiasts.DemographicsDemographics such as discount prices for students and seniors. Demographics is also a common factor in branding, product development and distribution. LocationPeople who frequent a particular physical or digital location. For example, advertising a nerdy product in a nerdy game or locating an art supply shop near a large art school.
BehaviorTargeting products, brands or campaigns based on behavior. For example, a fashion brand finds that its loyal customers buy heavily from the Spring/Summer line when it is first released. As such, the brand heavily promotes to these customers in the weeks before the line is released to shops.LifestyleIt is common to craft brands for customers who identify with a particular lifestyle such as a brand of hiking boots with a carefully shaped identity that embraces adventure and sustainability. For example, the interior of product showrooms may be designed to look like the inside of a log cabin.
Targeting customers who aren't price sensitive with premium versions of products and services. Alternatively, price sensitive customers can be targeted with promotions such as coupons.Competitive TargetingTargeting the customers of a competitor. For example, targeting the customers of a dominant telecom company that is known for poor customer service by offering a superior customer experience.
Market Research
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