|WikiProject Business||(Rated Start-class, Top-importance)|
|WikiProject Marketing & Advertising||(Rated Start-class, Top-importance)|
Include in market segmentation
A target market is a particular market segment at which an organization had decided to aim its sales and marketing efforts. The current Wikipedia definition of "market segmentation" appears to conform to Wikipedia standards and does a good job of defining marketing segments (of which target markets are a subset). In fact, the "market segmentations" and "examples" sections of this entry pertain to all market segments and are better-addressed in Wikipedia's definition of "market segmentation" than they are here. As for the other sections, if other reviewers deem them relevant, they can move with the overall definition. I can check back and move the section unless other reviewers object.
PS. I agree with a previous reviewer that target audience and target market are not the same for the reason he/she cites.
Target marketing can be used for many different fields in business. Marking in general is considerable to how you can sell a product to a certain type of people, in categories such as what kind of people they are. Don't you remeber when you were in high school and you had different crowds its the same thing, But what group do you want to deal with or sell to. How could you market to one if you were a part of them, research them!!
-- DJ ricky of Ft
There is a long rambling paragraph in the Market segmentation section that is so poorly written it hurts. I tried to see if it was plagiarized or paraphrased/translated from a non-English source, but couldn't find a specific entry (though I did find a Vietnamese student essay site that was nearly word for word). It's anyway full of runon sentences and doesn't add much to the discussion. I recommend deleting the paragraph since the following section that describes characteristics (Demographics, Psychographics, etc) flows well from the previous billeted list. I'd delete it myself, but since it is not my area of expertise would like someone with more SME on marketing to review. Nwhysel (talk) 13:06, 25 April 2017 (UTC) Nwhysel (talk) 13:06, 25 April 2017 (UTC)
Merge with Target Audience
Target Market and Target Audience are not necessarily the same thing. Target Market is a very specific business term. Target audience is a less specific media term.
A Target Market covers the specific segment of people that a company wants to market a product or service, or group of products and/or services. This group is chosen by demographic, psychographic, and various other means. An example of a target market might be described as, "A college-educated woman living in the southeast United States. A working mother of 2 or 3, a homeowner, with a middle-class income and lifestyle, who has aspirations for a higher lifestyle."
A Target Audience is the specific demographic segment for media, whether that be advertising, a television show, or a motion picture. A target audience might be described as, "Middle class teenage girls between 13 and 18." Far less specific, and not necessarily the same thing.
Alternatively, "Target Market" is more likely to be what people are searching on. Danny Kettle has his own solar system. The term applies more widely than to media terms. This term will more likely be referenced by people looking for information in a general Marketing context than by people looking for media specific context.
Cross reference the two seems like a better solution.
-- unsigned comment
Under "rewrite", there is a text box that says "flobby doo daa". I'm pretty sure this is vandalism, so I will remove it.
- Oops, forgot this. Redoctober240 00:09, 27 April 2007 (UTC)
I removed the word "penis" from the related articles section, hilarious though the author undoubtedly found it
- DRYYY && A HALF*
This is a terrible article. It must be rewritten
Serviceable available market
I notice that there is an article for Serviceable available market, which seems to also be talking about target market. Should it be merged into this article? I have created a topic on talk:Serviceable available market to discuss this. PeterEastern (talk) 12:27, 19 March 2015 (UTC)
I had removed this section and added it to Online Target Advertising. It was originally its own article, then was added to this article. After working on the article within my own sandbox, I decided to take what I had written, remove it, and make a new article. In addition, I added the link to that page in the "see also" along with a link to your article within mine. Kelseymar (talk)kelseymar
Excessive Repetition and Lack of Focus
I have to agree with other comments on this Talk page that this article is "terrible" and "needs to be rewritten". This page not only repeats itself, over and over again (e.g. demographic, behavioural and psychographic segmentation is repeated no less than three times on this page) AND (differentiated/ undifferentiated marketing is mentioned multiple times), it repeats material that is already covered in the page on market segmentation. Surely, a link to market segmentation is all that is required?
A lot of material on this page is not focussed. Instead of drilling down and exploring the concept of a target market in detail, this page seems to want to broaden the scope and discuss segmentation approaches as well as marketing in general, including the history of the marketing concept. This pages desperately needs a strong focus on target markets and a big restructure to make the core themes stand out more clearly.
In addition, much of the material on this page treats target marketing as an advertising approach. This is incorrect - target marketing is a marketing approach - and it is concerned with developing the total marketing offering (product, price, place and promotion) with the needs of the target market in mind. The distinction between marketing and advertising gets lost somewhere in the middle and the discussion assumes and advertising focus.
I agree with other comments that the 'target audience' and 'target market' are different concepts. The 'target audience' refers to those members of a population that are exposed to marketing communications, while the 'target market' refers to those segments have been selected for special attention. While there may be considerable overlap between these two groups in practice, at least analytically they need to be treated as different. This distinction needs to be much more clearly articulated and this is a good place to do that. ( I would have thought that a Venn diagram could usefully distinguish between the two concepts).
Where to from here?
This page needs a major overhaul to remove repetitions, to focus on the core issue (target markets) and to make it more readable and more useful to readers without subject matter expertise.
Terminology': Clarification of terminology (e.g. Purchasing for special occasions like weddings, etc is termed "opportunity" but in the marketing literature this is known as "usage occasion".
Excessively long introduction The lead section contains detailed descriptions of bases for segmentation (demographic, geographic, pyschographic and behavioral) which are not only off topic, but are repeated twice further down the page.
Wikipedia's guideline is that the lead section should consist of approx 4 paragraphs, and should provide a brief explanation of the article's main themes in a way that would be understood by a lay reader. The current lead section consists of 12 paragraphs (three times longer than the guideline), five of which contain detailed descriptions of the segmentation bases. This level of detail is not warranted in a lead section. The discussion about bases for segmentation needs to be removed from the lead section, and should be integrated with the other discussions within the article, or deleted entirely. (I am reluctant to delete, because this lengthy discussion contains some ideas that are not canvassed elsewhere - therefore integration is to be preferred)
This page needs to develop a much stronger focus on the theme implied by the page's major heading, namely target markets. To differentiate this article from the nine other articles on Wikipedia that cover the concept of a target market, this page needs to maintain a strong focus on 'target markets' to the exclusion of other incidental concepts, and needs to drill down and take a deeper look at target market related issues. Instead of going off topic and discussing the marketing mix, the history of marketing, etc this page could devote itself to discussing:
- how marketers identify specific target markets
- criteria used to evaluate attractive (or profitable) target markets
- how marketers decide the optimal number of markets to enter
- the concepts of a primary and secondary target market
- concepts of target market and target audience (being careful to distinguish between the two concepts)
- concept of total addressable market (in Euler diagram, but never defined or dicussed)
- how target markets are profiled (e.g. attitudes and motivations, purchasing habits, media habits
- typical sources of information used to compile market profiles
- actual examples of target market profiles (especially those relevant to key brand advertisers and marketers) e.g. profile of a female grocery buyer, profile of a tech-savvy Millenial, profile of a young single, profile of a baby boomer etc
Errors of Fact/ Errors of Interpretation
There are many errors of fact and/or errors of interpretation -too many to itemise separately. These need to be rectified urgently. Here follows a more detailed explanation of selected passages that either contain errors of fact, errors of interpretation (and in a few instances both errors of fact and errors of interpretation):
- Section on the "First Emergence of the Marketing Mix" is problematic: What the article currently says: The 'emergence of the ‘marketing mix’ was claimed to be in 1965 by Borden'
- Consensus view: First known mention of a marketers as 'mixers of ingredients' is attributed to Prof James Culliton as early as 1948 (Reference: Culliton, J. The Management of Marketing Costs, [Research Bulletin] Harvard University, 1948). Although Borden did not coin the term 'marketing mix' (he clearly gives credit to his colleague, James Culliton for this), Borden claims that he was instrumental in popularising the term because he began using it consistently from the late 1940s (Reference: Borden, N.H., "The Concept of the Marketing Mix," Journal of Advertising Research, 1964, pp 2-7 and reprinted in: Baker, M.J. (ed), Marketing: Critical Perspectives on Business and Management, Volume 5, Routledge, 2001, pp 3-4 and available online at Google Books
- What the article currently says: "at this stage  it [marketing] wasn’t split into the 4P's but instead it was just a few things that helped make up marketing (Rafiq & Ahmed, 1995)."
- The consensus view: Although the idea of marketers as 'mixers of ingredients' caught on, there was no real consensus about what elements should be included in the mix. The 4 Ps, in its modern form (i.e., the marketing mix), was first proposed in 1960 by E. Jerome McCarthy in his text-book, Basic Marketing: A Managerial Approach Irwin, Homewood, Ill., 1960. This is four years prior to the date specified in the article. Note that McCarthy used the 4 Ps as an organising framework for the entire work, so that it is not appropriate to cite specific page references for the 4Ps.
- What it currently says: "The 4P's were debated at length and then the theory of 8P's was suggested by Goldsmith (1999), the eight included product, price, place, promotion, participants, physical evidence, process and personalization.'" ::Consensus view: [A date of 1999 is arguably rather too late and in addition, it should be noted that the expanded marketing mix applies to services marketing rather than general marketing and that the debate about how many Ps to include is ongoing] The 7 Ps or 8 Ps first began to take shape at the inaugural AMA Conference dedicated to Services Marketing in 1981 where Booms and Bitner first suggested 7 Ps (See Booms, B. and Bitner, M. J. "Marketing Strategies and Organizational Structures for Service Firms" in James H. Donnelly and William R. George, (eds), Marketing of Services, Chicago: American Marketing Association, 47-51). Taken collectively, the papers presented at that conference indicate that service marketers were thinking about a revision to the general marketing mix based on an understanding that the nature of services required different tools and analyses. Since then there have been a number of different proposals for a service marketing mix. This suggests that the expanded marketing mix (regardless of whether you like 7 or 8Ps) evolved organically rather then being proposed by a single theorist. A useful reference for this discussion is Fisk, R.P., Brown, W. and Bitner, M.J., "Tracking the Evolution of Services Marketing Literature, Journal of Retailing, vol. 41, (April), 1993 and of course, the AMA Conference Proceedings.
- What the article currently says: "In the past, advertisers had tried to build brand names with television and magazines; however, advertisers have been using audience targeting as a new form of medium"
- Comment: Seriously? Since when did an audience (a group of people) become a medium (a channel for communication e.g. TV, radio, magazines, social media)?????????? Total gibberish!
Reverse Segmentation There may be opportunities to discuss the trend towards 'reverse segmentation' on this page. Reverse segmentation is a segment-building approach rather than a market division approach. As I understand it, reverse segmentation begins with a profile of a single purchaser and then seeks to build a segment by identifying other individuals with similar profiles. I lack the expertise in this area to write a fair account of it. If there is someone out there with this expertise, contributions or comments would be most welcome.
Overall framework This page needs someone with expertise in the subject area to provide an overall organising framework (an architecture for the page) - i.e., a list of headings and sub-headings that could serve as a guide for prospective contributors and help them to make decisions about where to place new content. In addition, an organising framework would help to give the page a more logical progression, help to establish the focus and assist in minimising future repetitions. I have suggested topics in this section, but other editors may have different ideas which are equally compelling.
If this article cannot be fixed, it should be merged with market segmentation (which already has some support on this talk page)
(talk) 01:09, 18 October 2016 (UTC)
Suggested framework for restructuring this article
If there are editors out there who are willing to contribute substantive content, here follows my suggestion for an organising framework with some suggested sub-topics or themes.
1.0 Target Market: Definitions
- 1.1. Provide one or two definitions from classic texts
2.0 Target Market and S-T-P process
- Focus on context - targeting (target market definition is the second stage of the segmentation-targeting- positioning process used in marketing)
- Refer to Market segmentation for more information about STP
- Target market definition is used in marketing plans, advertising plans and other functional plans
- The target market is the core focus of all marketing programs
3.0 Identifying target markets
- 3.1. Criteria used to evaluate attractive (or profitable) target markets
- 3.2. How marketers decide the optimal number of markets to enter
- 3.3. The concepts of a primary and secondary target market
- 3.4. Concepts of target market and target audience (being careful to distinguish between the two concepts)
- 3.5. Concept of total addressable market (in Euler diagram, but never defined or discussed)
- Useful reference: Marketing Insider, "Evaluating Market Segments", Online: http://targetmarketsegmentation.com/target-market/secondary-target-markets/
4.0 Profiling target markets e.g. attitudes and motivations, purchasing habits, media habits
4.1. Typical sources of information used to compile market profiles
4.2. Actual examples of target market profiles (especially those relevant to key brand advertisers and marketers)
- e.g. profile of a female grocery buyer
- profile of a tech-savvy Millenial
- profile of a young single
- profile of a baby boomer (generational segment)
If every keen editor just took responsibility for one heading or sub-heading, this article could be developed into something worthwhile in a matter of weeks!
Here follows an example of a customer profile for a grocery buyer based on research carried out by SCA in Australia.
Profile of Main Grocery Buyer
The main grocery buyer (GB) is female, is in her 40s, married, has children at home and works part-time. Her household income is about AU$70,000. She is loyal to the big supermarkets (Coles and Woolworths), but will occasionally shop at discount stores for bargains. For certain purchases such as fresh fruit and vegetables, meat and healthcare/ beauty products, she may shop at stand-alone stores such as green-grocers, delicatessens, butchers or health food stores. She carries out one main shop weekly which occurs at weekends, typically Saturday, between 1 and 5 pm. She carries out up to three 'top-up' shops per week which occurs on weeknights between 5 and 8 pm. She spends an average of AU$100 per shopping visit. Her brand choices are motivated by value, specials and promotions, cheap prices and to a lesser extent private labels. Although her first preference is for in-store shopping, when she is busy, she appreciates the convenience of online purchasing with home delivery.
I created these images and uploaded them to Wiki Commons. A copy of the target audience/ target market is currently on the article dedicated to Target audience while the STP image currently appears on the Market segmentation page. If anyone ever gets around to reworking this article (and let's hope that it is sooner rather than later), the diagrams might be of some use.