Question

briefly discuss the target marketing process

Answer 1

Target marketing process (TMP) is a process which connects the customers needs with the targeting actions of a firm/ business. The TMP consist of three stages:-

1. Market Segmentation
2. Targeting
3. Positioning

1. Market Segmentation:- This process basically requires identification of the needs of the customers and then those needs are connected with the organisations marketing program, Segmentation helps to divide a large market into smaller units based on demography, physiography, age, gender, family structure, income levels etc.

2. Targeting:- Targeting stage is about targeting the customers based on previous segments, various strategies like differenciated strategies, undifferentiated strategies, customised strategies are implimented in order to efficiently deleiver the needs of the customers.

3. Positioning :- This stage is about the brand positioning in the market, how the product will compete in the market with other competitors, in this stage competitors brand is analysed and through feedbacks the current targeting strategies are evaluated.