Target marketing is focused to identify the potential customers and apply suitable targeting strategy and makes and maintains a marketing mix specifically designed to satisfy or fulfil the needs of group members or target customer.
Product Specialization 1) Target Market Characteristics
Buyers with common needs and demand: When potential customers prefer to buy more organic food then it leads to increase the demand for that organic products which ultimately increase the production and supply. For Example: Beef, Free range egg, Wholemeal Organic bread etc. Mass production will reduce the cost of production for organic produced and generates more revenue …show more content…
2) Target Marketing Process:
Mass marketing (undifferentiated): Marketing mix strategy will be applied to the whole market for example: Milk, Vegetables, Fruits & Nuts.
One to one marketing (differentiated): Marketing Mix strategies are customised as per customer’s needs and demand for a particular. For example: Gluten free products, Low GI Organic food etc.
Target market: Marketing Mix strategies are applied to those potential customers who are very specific to buy some products from one particular brand. For example: Organic Fresh Vegetables like Spinach, Tofu etc., Some customers are very specific to buy these products regularly from MACRO Brand rather than switching to any other brand. C) Positioning
Positioning is the act of designing the company’s offering an image to occupy a distinctive place in the mind of the target market. Company positioning strategy is planned to create a single market perception of the entire organisation in relation to competitors and Brand positioning strategy is intended to make a market view of a particular brand, usually based on product …show more content…
• Technological: Agricultural research, disease control, computer technology, food science, unlimited opportunities for innovation
• Political-legal: Political stability, political concerns about land, legislation, enforcement, greater concern for ethics
5) Consumer Perception and Behaviour about the Brand
Consumer behavior is the study of how organisations, groups and individuals choose, utilize, purchase, and discard ideas, services or goods to satisfy wants and needs.
An understanding of the target customer’s influences, psychological process, and the stages of a consumer’s purchase or buying decision process are critical to achieving organisational marketing and sales objectives translating to success. (Zoeller 's, 2016) A consumer’s buying behavior is influenced by social, personal, cultural, and psychological factors. The main factor that have the broadest and deepest influence for consumers when making a purchase is Cultural factors.
Cultural Factors are classified into smaller subcultures with distinct social classes.