| Secondary markets have high growth potential. Your target customers are those who are most likely to buy from you. Both marketing segmentation and targeting go hand in hand to ensure the success of a company. Primary: Football players looking for extra training during the off season or looking for a career change Existing teams wanting to keep players game fitness Secondary:. Learn what goes into knowing your target market and get a laser clear focus on which. North America is a key target market. There's a reason for this: Netflix, for instance, is a primary source of programming that influences viewer preferences and online behaviors; and marketers who follow viewers from Netflix to those. Capping a remarkable, decades-long streak of vigorous growth, bottled water passed a major milestone in 2016 when it surpassed carbonated soft drinks to become the largest beverage category by volume in the United States. Gender NASCAR Fans Male 63% Female 37%. This is a. Finally, Coca Cola consider each customer as a target and a potential consumer. Get pre-written content including website pages, articles and more from our Content Library so you don’t have to write your marketing material from scratch. If businesses do not conduct market research, they risk producing a product that customers are not interested in. The marketing mix or 4Ps (Product, Place, Promotion and Price) of Verizon Communications, Inc. Yaz Contraceptive. As you asked. Knowing Your Bar's Target Market: The Key to Successful Marketing Failure to understand who your target market is will leave you shooting in the dark with your marketing efforts. Best Buy the brand,. However, they switched their target market slightly, and instead of being known as a sports nutrition retailer they are more of a family nutrition retailer. 5 Steps to Estimate Your Market Size by Priority Metrics Group , on July 8, 2015 For most businesses, the concept of market sizing is readily understood but not easily accomplished. Healthy conscious men and women. The customer wants to feel sexy and look sexy, which is why she comes to shop at Victoria's Secret. Costco has a no-frills approach. – Understand the three types of government customers. Apple segmentation, targeting and positioning represents the core of its marketing efforts. Target Market. Las Vegas, Nevada (PRWEB) January 06, 2015. Which includes the following include: Large corporate (Relationship) customers. Primary and Secondary Target Markets Target market is defined in simple terms as a group comprising the customers that a company, organization or business aims its products and marketing efforts towards. Marketing Your Practice; How to Market Your Tax Specialty to Your Target Niche. Under Armour’s primary market as a company was the men’s athletic wear market for a long time. The core is composed of consumers who will definitely buy your product. This approach suggests that the. , the parent company of Verizon Wireless, involves heavy advertising that promotes premium-priced and high-quality services in the telecommunications and related markets. Hence, it is also called new issue market. Meet Olivia. Requirements of Market Segments. What are the Federal Reserve's objectives in conducting monetary policy? The objectives as mandated by the Congress in the Federal Reserve Act are promoting (1) maximum employment, which means all Americans that want to work are gainfully employed, and (2) stable prices for the goods and services we all purchase. If your competitors know their target market, they have the edge. A primary market is one in which new securities are offered to the investing public for the first time. Telstra target audience is as many people as possible if babies could use phones they would be on telstras sights. With that information, you’re able to create products that provide solutions, market to consumers effectively, and increase your chances for success. There are 4 types of Market segmentation which are most commonly used. 7 million as the expected target number of Americans using wearables in a few years. The way a marketing team distributes. External sources are of immense importance and utility in case where research needs detailed and thorough investigation. Try to picture your audience and describe who they are, what they look like, and what they do. Once target market(s) are identified, the organization develops a product offering (marketing mix) that is positioned to be attractive to that segment. Who is the target consumer for Electric Vehicles? What are the levels of acceptance and adoption? Ipsos wanted to know so we went under the hood to find out (actually, we plugged in)!. The number of retailers offering technology-based in-store marketing programs with the ability to strengthen relationships with their best customers continues to grow at a. Price-conscious buyers C. With over a billion people on the platform, Facebook has done a great job of helping marketer's target groups of people. Merchandising inspired by the film, such as action figures based on a film's characters or the licensing of film concepts to fast food chains, increases the public's awareness of a film. Targeting Your Market. Target Market. Assess Your Target Market’s Spending Habits. Learn what goes into knowing your target market and get a laser clear focus on which. Introduction. Young adults aged 18 to 24, total 40 percent of Starbucks' sales. The target market is very broad. But I’m assuming you are already enlightened and just want to jump in …. Market Segmentation is the process of target marketing. Can Canadian Tire win over younger shoppers? noting four separate recent trials where it halted a printed flyer in favour of beefing up digital marketing. by Linda Pinson and Jerry Jinnett | Oct 1, 1993. Technically, they “own” the data. Target and Kmart have the highest share of Hispanic shoppers (15%) and Kmart and Aldi have the highest percentage of African-American shoppers (14%). External sources are of immense importance and utility in case where research needs detailed and thorough investigation. AT&T, Verizon Target Young, Old Potential Subscribers - 09/05/2007 better wireless handsets and faster data services will prompt marketing and advertising targeted toward subscribers with. In Ford's case, the target market is highly varied and spans the global economy. 7 million as the expected target number of Americans using wearables in a few years. A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach target customers and achieve competitive advantage. Which comes first, marketing mix or market segmentation?. The Marketing Mix. Integrity, Authenticity, Generosity, Social Karma (5) Book marketing strategy, launching and relaunching. For those of you who don't know, a target audience is a general group of people something. Marketing Your Practice; How to Market Your Tax Specialty to Your Target Niche. Second, market fragmentation may have also taken place during the maturity. We want learners to know how to improve their learning and to be given the opportunity to do this. Identifying Target Market Areas for Major League Soccer Using GIS by Gregory James Packer Since its inaugural season in 1996, Major League Soccer (MLS) has developed steadily, growing from ten franchises at its inception to eighteen today, with plans to expand to twenty over the next two years. Generally, market research breaks down into the following categories: Primary research. Who is the target consumer for Electric Vehicles? What are the levels of acceptance and adoption? Ipsos wanted to know so we went under the hood to find out (actually, we plugged in)!. Jeff Rossi, the Spotify business marketing global director said… "As the largest global streaming service, we have a deep understanding. Primary market research is a great way to gather information about your small business’ product or service idea. These methods, used properly, can help you to efficiently hone in on your target market for a new product and rise above the competition. Determine the primary and secondary target markets for your company. Nordstrom is an upscale department store that competes with other high-end stores. Most recently Target has focused its efforts on Planogram Optimization and Space Optimization. Healthy conscious men and women. The first step in developing a consistent marketing strategy is to choose a target client profile by defining what kind of clients you serve and want to serve. Once your target market is defined through your knowledge of product appeals and market analysis, and can be measured, you should determine whether that target market is large enough to sustain your business on an ongoing basis. -listed shares of Canada Goose Holdings Inc. Speak your target market's language and only create offers that target market values. Unathi Kwaza RT from TheLifestyleTourist: Here is a thread about Private Game Lodges/ Reserves. Once your target market is defined through your knowledge of product appeals and market analysis, and can be measured, you should determine whether that target market is large enough to sustain your business on an ongoing basis. These are the target customers of TOMS as they believe that due to them being socially aware they are more able and willing to spread the message of TOMS shoes, and therefore are helping support and spread the mission statement. Mar 24, 2015, Last Updated on Mar 25, 2015. Does a market become secondary automatically when its next to a primary market? For example, is a suburb of San Francisco or New York considered secondary or tertiary? I mean if you have people living in one of those suburbs but working in the downtown core of one of those primary markets how is it classified?. Amazon's Brick-and-Mortar Disruption: Primary Target Market. That's where they get the biggest return on their marketing dollars. Development of Product Strategies aligned with Strategic Focus. Experienced, Creative and Innovative Web Development & Marketing Firm. The Marketing Mix (4 P's) The marketing mix is the unique combination of pricing, promotion, product offerings and distribution system (place) to reach a specific group of consumers (the target market). individuals, households, or market segment that a marketer considers worthy of its attention as an attractive opportunity for sales and profit, but not at the level of another more attractive opportunity; while the emphasis is on the primary target market, some. Chevy Camaro is as popular online as it is on the road. Hardwood Floor Manufacturers. This concept can easily be applied to business, as well. Using an online service may feel even more unfamiliar. This is a space where subscribers can engage with each other and Globe staff. It still works or we would have zero clients on our roster and be forced to close up shop this afternoon. What is a Target Market?. Before you start marketing your product/service and creating your marketing campaign, you need to identify who your target market is. Their characteristics and buying behaviors usually differ from those of the primary target market. fastfoodmarketing. Unlike Secondary Market, when investors buy and sell the stocks and bonds among themselves. One of the fascinating things about this research is that how much information is available and the author presented a number of excellent sources, Small business owners have tremendous advantages to use this information. Coca-Cola targets mostly people who are 12 years old or older. In addition, your target market needs to be reachable. Resist the temptation to be too general in the hopes of getting a larger slice of the market. Target-Market Strategies: Choosing the Number of Markets to Target. The ultimate goal of any primary market research for entrepreneurs is to gain relevant insight into their target market that could not otherwise be gleaned from. Samsung's targets a very wide range of consumers ranging from normal day to day usage devices to industrial standard equipment. Include demographics, psychographics, behaviors, values, attitudes, etc. This is research done specifically for you or by you. For both the younger crowd and the ladies, Facebook is a good answer. The Primary and Upside Target Markets - Among 71 possible lifestyle clusters living throughout the United States, 12 represent primary target markets (3,283 households) in Muskegon County. In other. Successful entrepreneurs do their homework to understand target markets, identify a customer base and size up the competition. your business or brand) in the right or wrong direction. Segmenting and Targeting Your Market: Strategies and Limitations. The downside of professionally conducted primary market research is that it can be expensive — several thousand dollars or more. Coca-Cola has no specific target market, according to MarketMixx. If necessary, given the new information, make changes to your target market or niche in order to make the most of an unmet demand in the market. Resist the temptation to be too general in the hopes of getting a larger slice of the market. Kotler P, and Fox K, 1986, Strategic Marketing for Educational Institutions, Prentice Hall: Englewood Cliffs, NJ. The more apps I design and launch, the more I’m convinced it’s better to start with a specific target audience and create ideas based on the needs of that audience. For example, you might explain that based on your research, marketing efforts should be revised. your product's primary value is its technology and cost, for. The core is composed of consumers who will definitely buy your product. Become a steward of your target market. government documents and whitepapers, trade associations and reports from potential industry competitors. To build a successful coaching business you need to effectively market your coaching services. In my opinion, the target market for Diet Pepsi includes principally youth (both male and females) between the ages of 16 and 29 with a fast-paced, exciting, urban lifestyle. The electric bike market registers demand from product types such as electric scooter, electric motorcycle and pedelec. If this is a new concept, you’re not alone. MARKET ANALYSIS. You can also target your email list directly on Facebook by creating a custom advertising list. Description: In simple words, not all products can be consumed by all customers. The results of Courtyard by Marriott’s conjoint analysis are fascinating. Many business owners fall into the trap of believing that their products or services are "for everyone"— that is, anyone would be interested in or need the products. The traditional mediums include print, radio, television, direct mail and telephone; while the online mediums include email, social media, pay per click marketing, search engine marketing, and mobile marketing. 2) Write a 500-1,000-word paper describing the product and outlining your strategic approach to marketing this. SWOT analysis: A SWOT analysis identifies the strengths, weaknesses, opportunities, and threats facing your business. Whatever the reason is, all hosts are looking to list their current place on Airbnb because they have the ability to get to know who will be staying in their property. Gender NASCAR Fans Male 63% Female 37%. I'm not sure that's really the market segment eBay should be targetting, but it does appear that's the way they are headed. Primary audiences are those who receive the communication directly. Primary: Primary audience is the main body of viewers, which may also be known as the target audience. Meet Olivia. Based on the target market profile, what makes this product unique for these. However, since fitness trackers are often given as gifts, this could point to the reality mothers are the primary gift buyers in a family. Here are a few thing to consider before marketing to women. As detailed in its strategic positioning statement, Adidas' strongest consumer market is with the 20- to 29-year-old age group who are athletes or are passionate about sports. Assess Your Target Market's Spending Habits. While anyone might be interested in this product, few companies have the resources to market to everyone. They include SAN and NAS primary storage devices, non-volatile flash storage and other types of storage media. A primary target market is the most likely group to purchase your products, while the secondary target market is the second most likely. A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach target customers and achieve competitive advantage. Even when men were the primary income earners of the middle-class family. In order to design a product that appeals to the majority of the potential customers, the overall market which is made up of all consumers is divided into groups with with common characteristics. But I’m assuming you are already enlightened and just want to jump in …. Primary audiences are those who receive the communication directly. primary target market. Its mix of suite types and strong value proposition is also appealing to family. Once your target market is defined through your knowledge of product appeals and market analysis, and can be measured, you should determine whether that target market is large enough to sustain your business on an ongoing basis. Understanding the average user on Facebook can help you share better content for engaging your fans and friends. Secondary Market: Primary vs. In marketing, one of your greatest assets will be identifying and understanding your target audience. Transportation and Shipping Market Research Reports and Industry Analysis examine the transportation industry across all three modes of travel – land, sea and air. Recently, Starbucks has begun to target affluent young families with products like organic fruit squeezes for toddlers and containers of vanilla milk. Secondary markets have high growth potential. Marketing Print Books. Industry market research reports, statistics, analysis, data, trends and forecasts. A primary target market may not be the largest segment of a marketplace. Adults are also one of Apple Inc. Discuss the importance of clearly defining a target market. iPhone's are useful to adults for their everyday needs such as phone calls, map directions, internet connection, documents and cameras. There are nearly 32 million moms in the U. Primary market research methods. Results inform actual product design to messaging and executional marketing tactics. On the other hand, if you aim for a target market, you can reach potential buyers by customizing your marketing message and placing it in media outlets your ideal customer is most likely to use. PRIMARY AND SECONDARY AUDIENCES. Primary target market basically comprises the potential customers who are targeted by the companies. Target audience segmentation allows you to create buyer personas. The Marketing Mix. TARGETMARKETNEWS. Size of the primary target market: Here, you need to know the number of potential customers in your primary market, the number of annual purchases they make from food trucks that have menus similar to your own, the geographic area they reside in, and the forecasted market growth for this group. Yes! We understand your skepticism. All age groups are being targeted but the most potential is the age group from 18-25 that covers around 40% of total age segments. David Strader, Sr. Dunkin Donuts key market segments are student, worker, kids and families. How do you determine if there are enough people that fit your target market? If there is a need for your product or service, chances are there are enough people in your target market. Target Market The target customers of H&M belong to the group of fashionable and trendy consumers who see shopping as a social activity providing pleasure in their daily life. Marketing plan designs to achieve marketing objectives, this leads toward business objectives. Nike is one of the pioneers in marketing and has one of the strongest Marketing Mix. Market segmentation is one of the oldest marketing trick in the books. Coca-Cola targets mostly people who are 12 years old or older. 0 MARKET ANALYSIS 4. At the end of this course, you will have created a marketing plan for a hypothetical product-based company. According to Wikipedia , a generation is defined as "a cohort of people born within a similar span of time (15 years at the upper end) who share a comparable age and life stage and who were shaped by a particular span of time (events. Gamble, Kimberly-Clark, and Georgia-Pacific) are taking about 68. Marketing Pl Target Market - SECTION 3: TARGET MARKET: A full description of the current market segment(s) and identification of an existing or new target market to be the focus for the remainder of the strategic marketing plan, including a discussion of why this target market represents a growth opportunity for the company. After all, you don't just own a smartphone. Market positioning is the way products are arranged in order to occupy desirable, clear and distinctive place that is relative to the competing products in the targeted customers' mind (Williams 2010). This strategy will stimulate the trial ofrecipes with Rice Krispies as the main ingredient, and will also help build awareness among potential consumers to the versatility of Rice Krispies. Well-Known Target Marketing Campaigns. With the rise of retail and virtual providers, urgent episodic care (on-demand care) represents one of the best opportunities for attracting new patients. TCP/IP: [tcp] TCP/IP stands for transmission control protocol and internet protocol. That is based on all the reporting I’ve seen. As mentioned before, Best Buy uses a differentiated market coverage strategy by offering multiple brands to cater to the needs of all of the consumers in the consumer electronic market. Does a market become secondary automatically when its next to a primary market? For example, is a suburb of San Francisco or New York considered secondary or tertiary? I mean if you have people living in one of those suburbs but working in the downtown core of one of those primary markets how is it classified?. What is the Difference between Primary and Secondary Market Research?. Overall, however, adult female homeowners seem to be the primary Sears shoppers. Mintel is a research firm that helps companies achieve advantage by providing market reports with high-quality content, thoughtful analysis, and extensive coverage of consumer markets. Traditionally we called this market segmentation but lately many of the most successful marketers refer to it as “demand landscape mapping. -listed shares of Canada Goose Holdings Inc. A dedicated team at Boeing pores over reams of economic, airline, travel, and fleet data annually to create the market outlooks below. In addition, your target market needs to be reachable. What is sampling? In market research, sampling means getting opinions from a number of people, chosen from a specific group, in order to find out about the whole group. As you can see, all tickets that end up on the secondary market were originally sold on the primary ticket market. Which comes first, marketing mix or market segmentation?. Defining you Primary and Secondary Target Markets is the most important and most strategic marketing decision that you make for your business (That’s why we deal with it first!) It is this decision that has the potential to point the ‘ship’ (i. But you can also dive further into audience research to document your target audience in the form of a marketing persona much more robustly. The first difference between the two is: At primary market the investor can purchase shares directly from the company. Also called target audience. It is also important to be able to identify and estimate the size of your target market, particularly if you're thinking about a new venture, so that you can tell if the customer base is large enough to support your business or new product idea. Target Market Coach's primary target market is men and women aged between 20s- 40s who possess mid to high levels of disposable income, seeking distinctive, easily recognizable, accessible luxury products that are relevant, well made, and provide excellent value. This is a. Chevy Camaro is as popular online as it is on the road. Even though I really was marketing towards new business owners in general, it turns out that the majority of my existing clients are men, over age 50 that are starting a new career or business late in life that don't know much about marketing online. • Wawa is very health conscientious of the food that they. TCP/IP: [tcp] TCP/IP stands for transmission control protocol and internet protocol. It takes 10 seconds for consumers to settle on their first impression of a logo, but it takes up to 7 impressions for people to recognize the brand and their logo. Mar 24, 2015, Last Updated on Mar 25, 2015. Market segmentation can be based on a wide range of criteria, including gender, pricing and interests. Here are some tips to narrow down your primary target market to those most likely to buy from your small business. Carrying these small devices makes adults lives much easier for communicating daily. The moms market segment is another important quick-serve target with distinct needs and expectations when it comes to fast food. Trying to sell a hamburger to vegetarians will only lead to wastage of time, effort, and money and a poor brand image. The dimensions are measured using various indicators and are weighted in determining their contribution to the overall Market Potential Index(MPI). Record Store Day has gone on to become a major event in music retail. Disney's secondary target market consists of men and women between 35-55-years-old. Millennials as a Target Market for Best Buy. Since the product was designed primarily for diabetics, healthcare professionals who treat diabetics are its primary target market. Today, I delivered a speech in London, at the Travel Distribution Summit by EyeforTravel, on how airlines can drive better results on social media by keeping their focus on specific groups of travelers, rather than blanket-marketing to all of them. Purpose To assess your ability to: • Analyze the primary target market of the company and the primary market the competitor has targeted. These five segments are demographic, geographic, psychographic,benefit, and usage-rate segmentation. In traditional marketing, we commonly talked about target markets as being: 18-24 college students, from middle class backgrounds, studying at public institutions, etc. Immigration is daunting enough. Recently, Starbucks has begun to target affluent young families with products like organic fruit squeezes for toddlers and containers of vanilla milk. Mass marketing is also efficient because you don’t have to tailor any part of the offering for different groups of consumers, which is more work and costs more money. Vera Bradley also as clothing they have started. Marketing Pl Target Market - SECTION 3: TARGET MARKET: A full description of the current market segment(s) and identification of an existing or new target market to be the focus for the remainder of the strategic marketing plan, including a discussion of why this target market represents a growth opportunity for the company. Coffee Shop Target Market: According to recent research about 77% of all adults in the United States alone drink some sort of coffee on a regular daily basis. An initial public offering, or IPO, is an example of. But I’m assuming you are already enlightened and just want to jump in …. The trials led to a detectable boost. Among that broad group, the primary target market includes those most likely to buy your product or service. Wikipedia Top. These numbers can be found by gently removing the silver strip on the back of your physical Target GiftCard. Trade Area Analysis, Development and Mapping. In order to design a product that appeals to the majority of the potential customers, the overall market which is made up of all consumers is divided into groups with with common characteristics. The company target a variety of different demographics that include women, men and children of all ages. Description. Understanding your target markets helps you to focus on where to promote your product/service, including advertising, conducting public relations campaigns and selling your product/service. Knowing who makes up this primary audience should be your goal when you are trying to identify your target market. If you are working to expand your business, then you may try and target markets that do not normally use cleaning services, but may be willing to try. Target Audience: Demographics and Psychographics The target audience for this ad is men and women ranging in ages from 25 to 40 who want to be more active on a daily basis. That's a simple way to waste your book marketing efforts. The dimensions are measured using various indicators and are weighted in determining their contribution to the overall Market Potential Index(MPI). When accepting coupons, we follow the guidelines below to ensure all guests have the opportunity to purchase products at great prices. Making a detailed profile of your target audience will help you make marketing and distribution decisions. This segment is made of 18-26 year olds that are active and participate regularly in outdoor activities. Hence, it is also called new issue market. A primary target market is the segment of a marketplace a business believes will give it the best chance to sell. Primary Target Market Secondary Target Market. A company uses target marketing or targeting, when it knows a group of people to market to. Market Research Report. Fortunately, market research can provide strategic insights to help improve customer relations and increase retention. consumers born from 1981 and 2000, and currently they are aged 15-34. From: Ling Chow. But the female market has room for growth. You drive sales by promoting the benefits of your company's goods or services to pools of potential buyers. Maintaining and further enhancing its reputation in the community is crucial to gaining additional market share of this target market. The marketing mix refers to approaches used to implement a marketing plan. The target audience is considered as an after thought, only important when formulating the marketing plan. Target Marketing for the Small Business: Researching, Reaching and Retaining Your Target Market. 1% are taken by the other small companies. Here are a few questions you can ask to help identify the right channels for your marketing efforts. This positioning is aligned with specific needs and wants that then make the product or service as desirable as possible to that particular target market segment. A target market is defined by the following characteristics:. If you are working to expand your business, then you may try and target markets that do not normally use cleaning services, but may be willing to try. Under Armour's product is. Situation Analysis 3. Advertisers and marketers have learned that the best way to understand children is to segment their market into 3 groups and research them separately: Kids’ primary market – what do kids buy with their own money? Kids’ influence market – how do kids affect the buying habits of the decision-makers (their parents, grandparents, carers, etc. However, not all of Nordstrom's target customers are high-end shoppers. However, a vague idea is not enough to compete in today’s ruthless business environment. These five segments are demographic, geographic, psychographic,benefit, and usage-rate segmentation. 6 Rules You Need To Follow If You Target a Female Audience. demographic grouping. 6 trillion in annual spending. For more information on the types of unlicensed databases available refer to the Small Business BC Market Research Resource sheet. Understanding your target markets helps you to focus on where to promote your product/service, including advertising, conducting public relations campaigns and selling your product/service. Include demographics, psychographics, behaviors, values, attitudes, etc. Chapter 8: Segment and Target Markets. For more information on the types of unlicensed databases available refer to the Small Business BC Market Research Resource sheet. The aim of this study is about gaining valuable consumer insights in order. Who is the target audience of video games? Men or Women #1 psx2514. I've compiled a list of market research resources that can help you find this type of information. • Therefore, the best market research is what you will do yourself NOT something you will buy • Hence you have to learn how to do primary market research with a well defined target market & really understand their needs & opportunities. Well-Known Target Marketing Campaigns. Best Buy the brand,. The first difference between the two is: At primary market the investor can purchase shares directly from the company. While she had a vague idea of who she could market English as a second language to, she hadn’t yet pinpointed her target market. What is primary and vs. How did Alibaba achieve its success? The answer is through market segmentation or target market, marketing mix that made up of factors under its control such as product, price, location, and promotion. This module explains how you can establish a promotional mix best suited to your company's needs and resources. The way a marketing team distributes. After much data gathering and multiple strategy sessions with management, Target developed an online points program to help recognize those who are meeting exceptional safety standards. Get up to speed on any industry with comprehensive intelligence that is easy to read. Before you start marketing your product/service and creating your marketing campaign, you need to identify who your target market is. Rueb Segmentation and Target Market for Southwest Airlines Introduction Southwest Airlines was formed in 1967 by Rollin King and Herb Kelleher and started service in June of 1971. Yaz Contraceptive. billboards that can target ads based on viewer data and location, and livestock. A primary target market is the most likely group to purchase your products, while the secondary target market is the second most likely. Assistant Professor and State Extension Specialist Department of Resource Economics, University of Nevada, Reno Overview Market research is often conducted to address one or more of the “4 Ps” of marketing (product, price, place, and promotion). However, the company wanted to expand their business and shift their focus on a new market, women. The smaller and more specific the target audience, the easier it is to create focused communication that will move your audience to action. Also, create a loyalty program where every 10th cut is free or you get a free shave with every third cut. Record Store Day has gone on to become a major event in music retail. Market segmentation involves dividing a broad target market into multiple subsets of consumers with common desires and common applications for the product. The article has 22 different types of target markets based on segmentation. Coffee Shop Target Market: Drip Coffee Lovers. This report will be describing how marketing techniques are used to market JD and the National Trust for criteria P1, M1 and D1. A marketing strategy is selecting and describing one or more target markets that a company's product or service will identify for business opportunities. For those of you who don't know, a target audience is a general group of people something. It will allow you to concentrate all your efforts in one direction. This positioning is aligned with specific needs and wants that then make the product or service as desirable as possible to that particular target market segment. A Verizon pay phone in Pennsylvania in 2008.