PRINTABLE LESSON 4 - Target marketing

PRINTABLE LESSON 4 - Target marketing - 1/25/2012 CHAPTER...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1/25/2012 1 CHAPTER FOUR TARGET MARKETING The majority fallacy The once popular assumption that all products should be made acceptable to, and then marketed to a majority of all consumers is now considered to be a thing of the past. If you try to talk to everyone, you’ll wind up talking to nobody. For that reason . . . . . . the shotgun approach to advertising is rarely efficient in today’s segmented markets. Advertisers must be focused and direct, and also on target. Target marketing Target marketing involves (1) identifying and (2) communicating with (3) prime prospects for a product or service. The process of identifying prime prospects requires (1) putting them into groupings (2) on the basis of measurable attributes (3) that marketers find useful.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
1/25/2012 2 Why target marketing? For efficiency, so that you do not waste resources by advertising to people unlikely to buy your product. For long-term company growth, so that you do not waste resources attracting customers to whom you might sell the product, but not profitably. Census data provide good starting points. Geodemographic databases available to advertisers combine information about prospects’ geographic location (e.g., by 2025, 70 percent of population growth in the U.S. is predicted to occur in the South and West) demographic groupings (e.g., age, ethnicity, generation) Demography is the study of vital economic and sociological statistics about people. Some anticipated changes in the U.S. population with implications for advertising: During the next 25 years the U.S. population will become larger, older, and more diverse. The biggest growth will be people age 65 and older.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

PRINTABLE LESSON 4 - Target marketing - 1/25/2012 CHAPTER...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online