How Target Marketing Is Performed Essay

1308 words - 6 pages

Changes in marketing concepts and practices due to the marketing activities that have become more diverse involving several functional areas and several external factors, for example, globalization, technology, fierce competition and complexity in customer demand (Gok & Hacioglu, 2009). As a result of the increasing in diversity of marketing activities had made marketing, which is the process of communicating the values between products or services products and consumer, to be difficult. In order to overcome the constraints caused by diversity, target marketing, which is the target aimed by a respective organization that is believed to be its prospective market with marketing messages, is getting important. Target marketing can be performed through several processes of identification. The identification processes involved identification of market segmentation, market targeting and market positioning.
The identification process starts with identification of market segmentation, which is getting important in target marketing as it will ease the marketer to select potential consumer based on their choices of purchases and the nature of the respective industry, will help in focusing the market into several segments, such as business process outsourcing, communication sector, Do-It-Yourself sector, fast-moving consumer goods, financial services sector, hospitality sectors, health and life sciences, information and communication technology and recruitment process outsourcing (Sun, 2009). Since market segmentation is getting important from time to time, steps of how market segmentation gains its validity should be understood and analyzed. In order for it to be validated, there are 2 grounds, such as validation of segmentation and superior returning of the firm instead of shotgun marketing, are to needed be obeyed (Cahill, 1997). There are several prerequisites that needed to be achieved for a segment to be validated is the association between the stable set of preferences; however, for a segment to provide developmental marketing messages, multiple product offerings that are applicable should be taken as a priority, instead of superior returning. Market segmentation that is associated with sets of stable preferences will produce better outcomes in influencing the choices of consumers and target marketing (Underhill, 2009). Thus, during this stage the marketers are required to come out with several research methodologies, such as surveys, interviews and observations that are related to the market segmentation. With the mentioned methodologies, marketers are expected to analyze and study the raw data, especially data focuses on demographic information, is collected. The information collected is precisely analyzed to understand the target audience with the help of several market analysis software, for example Stem-PLS and SPSS. With the aid of methodologies and market analyzer software, market segmentation is estimated to be determined precisely for the...

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