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TARGET MARKETING One of the most important, though often overlooked, components in marketing strategy development. Targeting recognized that most companies have limited resources and consequently need to place their bets where they will yield the highest return. TARGET MARKETING ISSUES Which are the most attractive targets for the business in terms of market size, profitability, brand-fit and long term attractiveness. What drives purchase and decision making? what attributes and benefits are most important to the target? Should current offerings be realigned or new offerings introduced to better the needs of the target? TARGET MARKETING CONSULTING APPROACH The consumer framework and target selection criteria are used to inform and narrow in on the core target. A target selection workshop can be held, obtaining internal agreement to select target (s). STRATEGIC POSITIONING Many companies are reluctant to select a core target featuring that excluding certain groups will decrease an important source of volume. In turn, companies try to serve all customer groups equally, which can result in a diffused offering, that no one group finds appealing. TARGET MARKET (Centre of the bulls eye). Broader (Consumption market) TARGET THEN BECOMES AN ISSUE OF PRIORITIZATION VS, NECESSARILY EXCLUDING CUSTOMER GROUPS. 3
