Market targeting is crucial in marketing. Imagine someone handing you car keys and saying "go," but not telling you where to go. You'd spend the whole day driving aimlessly because you don't know your destination. Similarly, in marketing, targeting means dividing a large market into smaller segments and focusing on a specific segment of customers.
Nike is a great example of effective targeting. They primarily target athletes and fitness enthusiasts. They don't just make regular shirts or casual shoes; they produce sportswear, jerseys, sneakers, and equipment related to sports and fitness. This targeted approach ensures they meet the specific needs of their customers effectively.
During the Covid-19 pandemic, food delivery companies like Foodpanda and Pathao have become popular among food enthusiasts. People are now more health-conscious, preferring organic foods. This has led to the rise of online organic food shops offering fresh, naturally grown fruits, vegetables, and meats. Even though they are more expensive, customers prefer the quality.
Effective market targeting helps companies focus on the right customers, making business goals easier to achieve. Therefore, identifying your target audience and catering to their needs is crucial for business success.
Md. Tajul Islam
Department of Marketing
Islamic University, Bangladesh
© 2024 - All Rights with The Financial Express
