Target marketing is the practice of aiming goods and services at a specific group of consumers. Rather than take a shotgun approach, for example, selling to 18- to 49-year-olds, companies try to narrow their marketing as much as possible, finding only the consumers who are likely to buy from them.Know More
Companies use this strategy because they see how differentiated the marketplace has become, and how it's no longer productive to market to everybody in general.
Companies must drill down and ask themselves relevant questions to create a profile of their ideal customer. They must ask about the customers' age, gender and salary, and where they live, for example.Learn more in Marketing & Sales
The seven P's of marketing are the service marketing mix, which addresses seven key characteristics in building a complete marketing strategy. The service marketing mix extends the original product mix of product, place, price and promotion by adding three additional service components: people, processes and physical evidence.Full Answer >
Marketing is important for any business because it is what brings in the necessary client base to help the business grow. It is also important because it can be used as a way to build brand recognition and expand a business to different locations.Full Answer >
A target market is a business' ideal customer base. Having a target market helps a business leader direct marketing funds to the customers most likely to buy from the business.Full Answer >
Place utility focuses on the desire of customers to have convenient access to goods at the time they want them. It is one of several primary marketing utilities that collectively address the uses customers derive from the various elements of a company's offering.Full Answer >