Targetmarket
- 1. Using Target Markets to Help Grow Sales
- 2. Target MarketDefinition:A specific group of consumers at which a company aims its products and services.
- 3. What are the factors contributing to successful target marketing?Find Your Niche Market, Target Carefully, Listen to Your Customers, Control Production Costs, Control Distribution Costs
- 4. What are the most important demographic factors to consider in target marketing?
- 6. The NFL is working to target elementary school aged children. They will become the most loyal fans. 60% of avid fans became engaged in elementary school.The NFL is looking to work with elementary schools to increase involvement by holding football related competitions, hosting player appearances at schools, and donating to the schools they are involved with. They started a football themed cartoon and an online fantasy football game called “Rush Zone.”The NFL Just Tackled Your Kids – Hanah Karp
- 7. TARGET CAREFULLY!Sweet-spot offerings have to be different from existing options and better for the target market.
- 8. Look for a place where no offerings exist, but simply identifying gaps in the market isn’t enough. Extensive research is essential.CVS Caremark’s target market is women since they make up 80 percent of the pharmacy chain’s customers. CVS has marketed its stores to aid women who are constantly multitasking. They recently redesigned 1,200 of its 6,200 stores to women, including shorter wait times for prescriptions, wider and better-lit shopping aisles, and more beauty products.
- 9. World Wrestling Entertainment’s (WWE) target market is young males. Monday Night RAWis the number one entertainment program on primetime cable among male viewers (2 million+) including the male demographics of 18-34, 18-49 and 25-54. It is shown at 9:00 PM ET to reach its target market.
- 10. Win Big $$$ By Thinking SmallFind your niche market and remember to target your group carefully, listen to your customers, control production and distribution costs.