Talk:Target market/Archives/2019

Suggested framework for restructuring this article

If there are editors out there who are willing to contribute substantive content, here follows my suggestion for an organising framework with some suggested sub-topics or themes.

1.0 Target Market: Definitions

• 1.1. Provide one or two definitions from classic texts Done

2.0 Target Market and S-T-P process

• Focus on context - targeting (target market definition is the second stage of the segmentation-targeting- positioning process used in marketing) Done

Refer to Market segmentation for more information about STP Done

• Target market definition is used in marketing plans, advertising plans and other functional plans
• The target market is the core focus of all marketing programs

3.0 Identifying target markets

• 3.1. Criteria used to evaluate attractive (or profitable) target markets Done
• 3.2. How marketers decide the optimal number of markets to enter Done
• 3.3. The concepts of a primary and secondary target market  Done
• 3.4. Concepts of target market and target audience (being careful to distinguish between the two concepts)
• 3.5. Concept of total addressable market (in Euler diagram, but never defined or discussed)

Useful reference: Marketing Insider, "Evaluating Market Segments", Online: http://targetmarketsegmentation.com/target-market/secondary-target-markets/

4.0 Profiling target markets e.g. attitudes and motivations, purchasing habits, media habits

4.1. Typical sources of information used to compile market profiles

4.2. Actual examples of target market profiles (especially those relevant to key brand advertisers and marketers)

e.g. profile of a female grocery buyer

profile of a tech-savvy Millenial

profile of a young single

profile of a baby boomer (generational segment)

---

If every keen editor just took responsibility for one heading or sub-heading, this article could be developed into something worthwhile in a matter of weeks!

Here follows an example of a customer profile for a grocery buyer based on research carried out by SCA in Australia.

Profile of Main Grocery Buyer

The main grocery buyer (GB) is female, is in her 40s, married, has children at home and works part-time. Her household income is about AU$70,000. She is loyal to the big supermarkets (Coles and Woolworths), but will occasionally shop at discount stores for bargains. For certain purchases such as fresh fruit and vegetables, meat and healthcare/ beauty products, she may shop at stand-alone stores such as green-grocers, delicatessens, butchers or health food stores. She carries out one main shop weekly which occurs at weekends, typically Saturday, between 1 and 5 pm. She carries out up to three 'top-up' shops per week which occurs on weeknights between 5 and 8 pm. She spends an average of AU$100 per shopping visit. Her brand choices are motivated by value, specials and promotions, cheap prices and to a lesser extent private labels. Although her first preference is for in-store shopping, when she is busy, she appreciates the convenience of online purchasing with home delivery.

Anyone who wants to contribute to this article, please feel free to use this content.

--BronHiggs (talk) 01:12, 1 December 2016 (UTC)

References