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 weve been waiting for. Tonight your target is Tokyo. And youre gonna play em the Star Spangled Banner with two-ton bombs. All youve got to do is to remember what youve learned and follow your squadron leaders. Theyll get you in, and theyll get you out. Any questions? All right thats all. Good luck to you. Give em hell.”
—Dudley Nichols (18951960)
“A sentimentalist, my dear Darlington, is a man who sees an absurd value in everything, and doesnt know the market price of any single thing.”
—Oscar Wilde (18541900)