What do you mean by targeting?

[varsha]

What do you mean by targeting?

[varsha]

Ans. Targeting is the strategy that is used by marketers to divide the market into smaller segments. Consumers are divided into smaller segments on the basis of their characteristics. The marketer uses this strategy of targeting the smaller segment in order to understand the needs, taste, and preference of the particular group to a greater extent so that their needs will be catered well rather than targeting the large segment so that it will become difficult to understand the needs of the consumers. Basically, the consumers are targeted on the basis of various characteristics like demographics, psychographics, and geographic areas. Demographic segmentation includes segmenting the target market on the basis of their age, gender, marital status, education, religion, etc. Demographics help in targeting the right consumers of the products. For example, the product is launched while is meant for females so demographics will help in targeting that particular market. Psychographics include values, beliefs, lifestyle, etc. For example, a product is launched at a premium price which can be sold to high-class societies only so, psychographics helps in targeting those people through segmentation. Geographic segmentation includes segmenting the market on the basis of city, region, country, etc. This will help in targeting the right customers for the products as the needs of the consumers may vary from place to place. Targeting basically helps in identifying the right consumers for the product so that it will be successfully launched into the markets.

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