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Targeted Marketing. Marketing is necessary for products. Increasing sales and profits an effect of a good marketing strategy. There are very many ways to market a product. These methods have different success rates. Targeting a specific group of customers is one of the effective ways of product promotion. Emphasis are focused on the customers most likely to purchase the products. All the efforts will, therefore, be put on the target market to maximize on them. This method of product promotion is more convenient to the small scale businesses. Returns are always assured by this mode of marketing. Targeted marketing has various advantages to the business. First, it is possible to put more emphasis on the features that are more important to the customers. These advancements provide the customers with all the reasons to purchase a given product. This leads to the increase in profits as a result of an increase in sales. Additionally, and there will be good communication as a result of this marketing strategy. This communication may be in terms of writing or verbally. Through these communications, the business might address queries raised by the customers. They can also ask for feedback from the customers concerning a given product. Fixing of a raised problem, therefore, becomes easier. The customers’ needs and wants can, therefore, be fully met. This will result to more reliable and loyal customers. Other customers can be influenced by the increasing number of loyal customers.
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Some of the benefits of targeted marketing are mentioned above. However for this strategy to work, there are certain characteristics that are associated with targeting market. Geographic target market is one such characteristic. This means that the consumers of a given product are located in the same location. It may cover a town, a city or even a state. Some products record very good performances in some areas than others. A second example is the demographic or socioeconomic target market. Age group, gender, level of income and education level falls under this category. A given product might be well-suited for a specific group; hence this group becomes the target market of the company producing that product.
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A target market can also be defined as a behavioral target market. It focusses on the level of loyalty of customers. Businesses just use ways to award loyal customers. Giving out of discounts on the goods bought is one such example. And finally, a market can be targeted by product related segmentation. The focus is on customers owning certain products. A good example business specialized in computer accessories usually consider the computer owners as their target market. Creation of a more specific target campaign, decreasing the number of competitors and increasing sales are the importance of product related segmentation.