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| title | chunk | source | category | tags | date_saved | instance |
|---|---|---|---|---|---|---|
| Advertising campaign | 3/7 | https://en.wikipedia.org/wiki/Advertising_campaign | reference | science, encyclopedia | 2026-05-05T15:17:25.386021+00:00 | kb-cron |
== Target market == Defining the target market helps businesses and individuals design a marketing campaign. This in turn helps businesses and individuals avoid waste and get their advertisements to likely customers. While attempting to find the correct target market it is important to focus on specific groups of individuals that will benefit. By marketing to specific groups of individuals that specifically relate to the product, businesses and individuals will more quickly and efficiently find those who will purchase the product. Businesses and individuals that monitor their existing data (customer and sales data) will find it easier to define their target market, and surveying existing customers will assist in finding more customers. Avoiding inefficiencies when finding a target market is equally as important. Wasting time and money advertising to a large group of potential customers is inefficient if only a handful become customers. A focused plan that reaches a tiny audience can work out well if they're already interested in a product. Over time target markets can change. People interested today might not be interested tomorrow, and those not interested in the present time might become interested over time. Analysing sales data and customer information helps businesses and individuals understand when their target market is increasing or decreasing. There are many advantages that are associated with finding a target market. One advantage is the "ability to offer the right product" (Suttle. R. 2016) through knowing the age and needs of the customer willing to purchase the item. Another advantage of target marketing assists businesses in understanding what price the customer will pay for the products or service. Businesses are also more efficient and effective at advertising their product, because they "reach the right consumers with messages that are more applicable" (Suttle. R. 2016). However, there are several disadvantages that can be associated with target marketing. Firstly, finding a target market is expensive. Often businesses conduct primary research to find whom their target market is, which usually involves hiring a research agency, which can cost "tens of thousands of dollars" (Suttle, R. 2016). Finding one's target market is also time-consuming, as it often "requires a considerable amount of time to identify a target audience" (Suttle, R. 2016). Also focusing on finding a target market can make one overlook other customers that may be in a product. Businesses or individuals may find that their 'average customer' might not include those that fall just outside of the average customers "demographics" (Suttle, R. 2016), which will limit the sale of their products. The last disadvantage to note is the ethical ramifications that are associated with target marketing. An example of this would be a "beer company that may target less educated, poorer people with larger-sized bottles" (Suttle, R. 2016).
== Positioning ==