A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards. A well-defined target market is the first element to a marketing strategy. The marketing mix variables of product, place (distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace.
Read more about Target Market: Market Segmentations, Strategies For Reaching Target Markets, The Psychology of Target Marketing, See Also
Famous quotes containing the words target and/or market:
“Well gentlemen, this is it. This is what we’ve been waiting for. Tonight your target is Tokyo. And you’re gonna play ‘em the Star Spangled Banner with two-ton bombs. All you’ve got to do is to remember what you’ve learned and follow your squadron leaders. They’ll get you in, and they’ll get you out. Any questions? All right that’s all. Good luck to you. Give ‘em hell.”
—Dudley Nichols (1895–1960)
“To throw obstacles in the way of a complete education is like putting out the eyes; to deny the rights of property is like cutting off the hands. To refuse political equality is like robbing the ostracized of all self-respect, of credit in the market place, of recompense in the world of work, of a voice in choosing those who make and administer the law, a choice in the jury before whom they are tried, and in the judge who decides their punishment.”
—Elizabeth Cady Stanton (1815–1902)