How to Define Target Marketing and Its Examples
For a business to flourish, it must be able to reach its target market successfully. After all, the end products or services are meant for these consumers. As part of the business marketing efforts, it must employ effective target marketing strategies to achieve business objectives. And in this guide, we’ll enumerate several target marketing examples to get a glimpse of how the most popular brands do it.
What is a target market?
Target market in a business perspective refers to the specific group of consumers you want your marketing campaigns to reach. They are the very people that pose a likelihood to be interested in checking out your brand and products, engage with your social media posts, and visit your store website. These people share common characteristics in terms of demographics, behaviors, and psychological patterns.
All marketing materials are made to reach the target market. While the target market is essentially the people who are naturally interested in what the brand has to offer, the business still needs to find ways to bring awareness to them. Thus, brands must employ multiple marketing strategies to find their target market.
A business’s target market is also its target audience. And knowing who your target audience is crucial in curating the marketing strategies that’ll bring success to the organization.
The difference of a target market from a buyer persona
Don’t get confused between your target audience and your buyer persona. A buyer persona is a fictional character that represents your ideal consumers. You identify your buyer persona with a name, occupation, interests, dislikes, ambitions, lifestyle, and even challenges.
Businesses use a buyer persona to describe their ideal consumer. This person embodies the target audience of the brand. It is a useful aspect in creating marketing campaigns because you know precisely in which form your message will be understood.
A typical buyer persona consists of:
- Personal information
- Content preferences
- Business or professional background
How to define your target audience
Here’s a quick guide on how you can successfully define your target market:
1. Conduct research about your target customer.
You will need the assistance of some tools to unearth necessary data about who your target market is. Yes, you might know your usual customers as someone in the X class and lives in an X type of neighborhood, but you need a deeper understanding of their behavior and where they flock so you can track and target them more easily.
One of the tools you need is Google Analytics to analyze where your site traffic comes from. You can even perform deep audience analysis that can show you demographics, psychographic data, and visitors’ geolocation. Having these data will help you understand them even more, enabling you to curate a more suitable marketing strategy for your target audience.
2. Assess the market.
As you gathered the data about your target customers, compare them with your business objectives to ensure alignment. You need to understand further how you will send the right messages across your target audience to encourage sales.
It’s also worth taking a look at how competitors do market their products to know the effectiveness. You must also be cautious in employing strategies that might cannibalize your own audience from other existing initiatives.
3. Define the audience.
Now that you have an immense understanding of your audience’s interests, needs, and behaviors, the only thing left to do is defining the exact target audience that your marketing efforts will address and reach.
In defining who your target audience, here are the questions that will serve as your guidelines:
- What need does your product suffice?
- What kind of problems do your products solve in your target market’s life?
- Do their lives benefit from availing the product? Enumerate the possible improvements it could bring to their life.
- What demographic qualities influenced decision-making?
- Which psychographic traits had an impact on content engagement?
- How do they prefer to engage with similar brands to yours?
- Is your audience segment big enough?
Answer these questions to arrive at the exact target audience who you’ll align your marketing efforts to. These will serve as your guide to come back to when you feel muddled in during business planning for your target market.
Target marketing examples
Here are some examples of target marketing for some renowned brands.
Nike houses an array of athletic wear and equipment that’s targeted to young athletes and runners. The brand sells apparel, shoes, equipment, and sport accessories that are known for their quality. This drives the higher price point, which only those with disposable income can afford.
The brand circles around athletics and the motivational aspect of pushing forward in sports. You can see these two play a big part in their marketing campaigns.
Lego is a global brand that’s considered to be among the most successful toy companies in the world. Its marketing strategy stems from the fact that it’s the parents who buy the toy, while the children are the users. The brand creates its marketing campaigns to appeal to the parents. And it has since partnered with several brands, movies, and video games.
Zara is a global fast fashion brand that sells fresh off the runway-inspired pieces. The massive brand dominates the fast fashion scene with its trendy fashion items. Its target market is the young, price-conscious, and always on-trend individuals. However, Zara’s target market isn’t segmented by age and lifestyle, making its market broad.
Zara offers affordable yet fashionable clothes so more people can purchase from them. The segmentation consists of women’s, men’s, and children’s departments.
Starbucks’ target market consists of the affluent or high-income individuals who can afford to spend $10 for a cup of beverage and a side of snack. You may notice how there is always a Starbucks in every affluent neighborhood, and that’s because these are the people who won’t doublethink spending an average of $6 a cup of coffee often.
However, Starbucks also started to cater to middle-income neighborhoods consisting of people who are willing to spend a premium for a cup of coffee. These people may not find themselves in Starbucks as often as the affluent, but there is an apparent demand for it.
Apple targets medium to high-income individuals and households. The age group is 22-55 who want premium products of technology. However, each product caters to different age ranges:
- iPhones are for teenagers up to professionals.
- MacBooks are for college students and professional individuals.
- The iPads are for the kids and children.
While Apple products may cater to different age groups, its target socio-economic status stays the same. The brand is after those who can pay a premium price for a premium gadget and upgrade soon when newer models arrive.
Uber’s target market is the frequent travelers who don’t own a car, cannot drive, or seek to have efficient cab service right at their doorstep. The demographics consist of individuals of 18 years and up of age, all genders, students, employees, or professionals who live in both rural and urban areas. They belong from the working class and the middle class who seek cost-efficiency while getting premium service for a personal cab service.
The ride-hailing giant offers different services—there are Uber X, Uber XL, and Uber Pool for budget-conscious customers. While the Uber Premium is directed towards those who are willing to pay more for a more stylish vehicle model.
These are some of the target marketing examples that show how crucial it is to understand your target market is.
In need of a more comprehensive guide on perfecting your target marketing efforts? Here’s the perfect online course to check out: Target Marketing: Finding Your Tribe and Niche.