Target Market

In a nutshell, a brand needs to know its consumers to be able to provide them with premium products and service as well as to communicate theses benefits through the right channels.

Dollar General has placed stores in community where there are low income individuals and offer a product line of general merchandise that includes many products. Dollar General specially focused on customer service. They provide food to customers with little, medium, and stable income. The mainstream of Dollar General Stores are placed in either shopping center of freestanding buildings and with a handful housed in underserved rural and urban structures. The company is conscious to fill the role of a neighborhood store and has kept away from the large box supercenter store, (Lechner, 2014). The company believes that the role of neighbor is a big part of its achievement. When opening a store, they select to pinpoint them with communities, often targeting cities that are home to less than 20,000 residents. Dollar General continues to strength its position as a consumer driven distributor of consumable basic. They carry out the mission of serving others by making value and convenience the trademarks of its business strategy. Thirty percent of their merchandise is priced at a dollar or less. With their stores averaging 6,800 square feet, they feature a focused variety of highly unpreserved merchandise, making shopping for basic necessities simple and hassle free.

Before proceeding with the next section (objectives), it is recommended that you complete the Marketing Plan Worksheet. Ask the academic mentor in the learning community for this if you do not have it.

A target market denotes a section of customers that a business aims at selling its products and services to. Markets can be segmented on basis of geogrphical area, the demographic factors, the psychographic factors, and the behavioral factors of the target population. Demographic market segmentation is determined on factors such as age, sex, occupation, religion, the level of education, and generation it determines the perceived benefits of the product. Based on the demographic features, Harkins Theatres majorly targets parents and children.

This worksheet is a complement to the study guide for both the MKT1. The purpose of this worksheet is to help you think about and apply important marketing concepts to Company G. By working through the exercises and matrices introduced in this worksheet (Section A, Section B, and Section C), you are laying the foundation for your marketing plan required in this assessment. This worksheet should be completed before you write your Marketing Plan, for which a template is provided.

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A target market is a group of customers a company has decided to ultimately aim its marketing efforts towards. Whole Foods has two different target market groups that regularly shop at their establishments. The first is the primary group that ranges in age between 22-40 years old men and women with college educations who care deeply about the sustainability of the earth and favor all-natural goods. These people truly believe in the entire brand experience and make shopping at a health food store a lifestyle decision.

Target market refers to the group of customers that a given business aims to satisfy and serve in its marketing initiatives (Dave,2010). The company has a huge target market. Nike offers a a wide product rage with which it targets specific groups of individuals. The company strives to meet the sppec9ific requirements of a group of

Target market is the market segment to which a particular good or service is marketed. It is generally studied and mapped by an organization through lists and reports containing demographic information that may have an effect on the marketing of key products or services.

According to David Cravens and others “Target market is a group of existing or potential customers within a specific product market towards which an organisation directs its marketing efforts”. Coca cola company follow Total market approach; therefore, company develops a single marketing mix and directs it at the whole market for their products.

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

The first pillar, target market segment is essentially the discovery stage. The point of this stage is to determine whom the company is serving and to whose needs their product needs to be tailored. Some contributing factors in determining the target include demographics, psychographics, and other important characteristics. In the case of United Commercial Bank, their main target market is clear, the

The Right Target Market One of the most important marketing functions for a firm is finding

1. TARGET MARKET: As discussed, target market is a group of potential customers in which a company directs its marketing efforts. A company should always anticipate consumers’ needs and work towards fulfilling these needs. It is one thing to identify your “target market” and another to satisfy them. Walmart’s credo is, “save money, live better” this summaries their target market, the lower-middle class and the poorer. (Low income consumers). Walmart is the only retail

“Setting objectives for a marketing plan is not simple and straightforward matter. It is an iterative process whereby objectives are set, strategies and action plans are developed, and then it is decided whether the planned objectives are impossible, achievable or easy. Marketing objectives should be difficult, but they must be achievable. The aim is to set objectives that a challenge, but can be achieved with effort. They must be motivating rather than discouraging.” (Westwood, 2002).