Why Is Target Audience Important In Marketing?

What are the benefits of target marketing?

Benefits of target marketingTailoring of products to meet the needs of particular groups of consumers.

Sale of products in the most appropriate places to reach the chosen target audiences.

Pricing will be set to reflect what a target market will be willing to pay for a product or service.More items….

Why do we need to know your target market?

Knowing your target market will help you to determine what marketing methods to use for attracting new customers, and how to add additional value for retaining loyal customers. You may think you know who the best fit for your business is, but you may be surprised at the results when you break things down.

What is the targeting strategy?

The selection of potential customers to whom a business wishes to sell products or services. The targeting strategy involves segmenting the market, choosing which segments of the market are appropriate, and determining the products that will be offered in each segment. Also called targeting. …

What are the 4 types of audiences?

The 4 Types of AudienceFriendly. Your purpose: reinforcing their beliefs.Apathetic. Your purpose is to first to convince them that it matters for them.Uninformed. Your requirement is to educate before you can begin to propose a course of action.Hostile. You purpose is to respect them and their viewpoint.

What are the 3 types of audiences?

Three Types of Audience Three types of audiences are the “lay” audience, the “managerial” audience, and the “experts.” The “lay” audience has no special or expert knowledge.

What is target audience marketing?

Your target audience refers to the specific group of consumers most likely to want your product or service, and therefore, the group of people who should see your ad campaigns. Target audience may be dictated by age, gender, income, location, interests or a myriad of other factors.

What are the four targeting strategies?

There are typically 4 different types of market targeting strategy:Mass marketing (undifferentiated marketing)Segmented marketing (differentiated marketing)Concentrated marketing (niche marketing)Micromarketing.

How do you target new customers?

10 Steps To Target And Connect With Potential Customers…Survey Customers. … Research Your Competitors And Find Out Who Their Customers Are. … Target Ads. … Smart Social Media. … Respond To Every Email, Tweet, Facebook Comment, And Phone Call; Adjust Yourself As Necessary. … Affiliate Marketing. … Establish Trust In Your Community: Publish User Reviews, Get Likes, Syndicate Articles.More items…•

How do they choose a target marketing strategy?

Look at the types of customers who are likely to purchase your products and use your services. Consider things such as age, gender, income level, marital status, occupation, educational level, gender and ethnic background. Identify which customer categories have the greatest need for your products.

What are the three targeting strategies?

The three activities of a successful targeting strategy that allows you to accomplish this are segmentation, targeting and positioning, typically referred to as STP.

What is a target audience example?

A target audience is a group of consumers within a predefined target market that has been identified as the best recipients for a particular marketing message. … For example, the target market for an online bookkeeping tool might include businesses with over $500K in annual revenue.