Perfect identification of Target market derives more customers

Journal entry number: 1     

Week: 3

Insight:

Perfect identification of Target market derives more customers.

Elaboration of insight:

In developing the marketing strategy, the STP is the important part to derive the value for the organization. Segmentation and then creates target market and then positioning to target the minds of the customer. Target market is defined what is your potential customers in which company want to serve. The perfect recognition of the market and customers helps the company to evaluate the needs, wants of that customer that derives the true customer, and increase the existing customers.   It is very complex for the new businesses to identify true target market. The potential customers deriving through the target market and enhance the current marketing strategy for the organization. Customer driven approach that is oriented through target market that helps in target the minds of the customer by satisfies their needs and wants.

Assignment Perfect identification of Target market derives more customers Abc Date Journal entry number: 1 Week: 3 Insight: Perfect identification of Target market derives more customers. Elaboration of insight: In developing the marketing strategy, the STP is the important part to derive the value for the organization. Segmentation and then creates target market and then positioning to target the minds of the customer. Target market is defined what is your potential customers in which company want to serve. The perfect recognition of the market and customers helps the company to evaluate the needs, wants of that customer that derives the true customer, and increase the existing customers. It is very complex for the new businesses to identify true target market. The potential customers deriving through the target market and enhance the current marketing strategy for the organization. Customer driven approach that is oriented through target market that helps in target the minds of the customer by satisfies their needs and wants. Application of this insight: In order to understand the implementation of the target market that derives the customers. In taking example like cereals, the segmentation is through demographic in which certain age and income is placed to identify the target market. The age is identified of the children’s like in between two to fourteen. The class of the parents is between middle and upper class. In case of cereals, the target market is parents and children are who want to satisfy their need. The parents purchase the cereals for their children. This identifies that target market derives the customer more accurately rather than just flourish the product in the market without knowing perfect customers. The evaluation and assessment of the customer is through the process of target market that recognizes the potential needs of the customer and target only those markets. Therefore, it is very important for the companies to first identify the target market and then explore its products and services to their requirements.

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Paper's Detail

Category Customer Relationship Management
Paper Type APA
Reference Type Research Paper
Words 326

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