What is Section Targeting and How Do I Implement It

8/3/2019 What is Section Targeting and How Do I Implement It

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Targeting

Part of STP - Segment-Target-PostionTargeting is the second stage of the SEGMENT "Target" POSITION (STP) process. After

the market has been separated into its segments, the marketer will select a segment or

series of segments and 'target' it/them. Resources and effort will be targeted at the

segment.

The first is the single segment with a single product. In other word, the marketer targets a

single product offering at a single segment in a market with many segments. For example,

British Airway's Concorde is a high value product aimed specifically at business people and

tourists willing to pay more for speed.

Secondly the marketer could ignore the differences in the segments, and choose to aim a

single product at all segments i.e. the whole market. This is typical in 'mass marketing' or

where differentiation is less important than cost. An example of this is the approach taken

by budget airlines such as Go/
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Finally there is a multi-segment approach. Here a marketer will target a variety of different

segments with a series of differentiated products. This is typical in the motor industry.

Here there are a variety of products such as diesel, four-wheel-drive, sports saloons, and

so on

What is Marketing?

Some basic definitions of marketing andthe marketing concept

There are many definitions of marketing. The better definitions are focused upon customer

orientation and satisfaction of customer needs.

Marketing is the social process by which individuals and groups obtain what they need and

want through creating and exchanging products and value with others.

Kotler.

Marketing is the management process that identifies, anticipates and satisfies customer

requirements profitably.

The Chartered Institute of Marketing (CIM).

The CIM definition (in common with Barwell's definition of the marketing concept) looks

not only at identifying customer needs, but also satisfying them (short-term) and

anticipating them in the future (long-term retention).

The right product, in the right place, at the right time, at the right price

Adcock.

This is a snappy and realistic definition that uses McCarthy's Four Ps.

Marketing is essentially about marshalling the resources of an organization so that they

meet the changing needs of the customer on whom the organization depends.

Palmer.


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This is a more recent and very realistic definition that looks at matching capabilities with

needs.

Marketing is the process whereby society, to supply its consumption needs, evolves

distributive systems composed of participants, who, interacting under constraints -

technical (economic) and ethical (social) - create the transactions or flows which resolve

market separations and result in exchange and consumption.

Bartles.

This definition considers the economic and social aspects of marketing.

The Philosophy Marketing and theMarketing Concept.

The marketing concept is a philosophy. It makes the customer, and the satisfaction of his

or her needs, the focal point of all business activities. It is driven by senior managers,

passionate about delighting their customers.

Marketing is not only much broader than selling, it is not a specialized activity at all It

encompasses the entire business. It is the whole business seen from the point of view of

the final result, that is, from the customer's point of view. Concern and responsibility for

marketing must therefore permeate all areas of the enterprise.

Drucker.

This customer focused philosophy is known as the 'marketing concept'. The marketing

concept is a philosophy, not a system of marketing or an organizational structure. It is

founded on the belief that profitable sales and satisfactory returns on investment can only

be achieved by identifying, anticipating and satisfying customer needs and desires.

Barwell.

The achievement of corporate goals through meeting and exceeding customer needs better

than the competition.

Jobber.

Implementation of the marketing concept [in the 1990's] requires attention to three basic

elements of the marketing concept. These are: Customer orientation; An organization to

implement a customer orientation; Long-range customer and societal welfare.

Cohen.

Now that you have been introduced to some definitions of marketing and the marketing

concept, remember the important elements contained as follows:

Marketing focuses on the satisfaction of customer needs, wants and requirements.

The philosophy of marketing needs to be owned by everyone from within the

organization.

Future needs have to be identified and anticipated.


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There is normally a focus upon profitability, especially in the corporate sector.

However, as public sector organizations and not-for-profit organizations adopt the

concept of marketing, this need not always be the case.

More recent definitions recognize the influence of marketing upon society

Targeting Influences

For targeting audiences, you need to consider the two kinds of environment that

influence targeting. These are the internal environment and the external environment.

The internal environment is based on the principles that your firm or business is built on,such as the objectives, values, mission and vision. On the other hand, the external

environment includes the following sub environments: social, economic, demographic,

task, political, cultural, global, natural, technological and legal.

The objective is to determine the buyers geographic behavior, psychological behavior,

and demographic behavior, and to create a complete customer profile based on what is

called the 4 Ps: product, price, place and promotion. Ultimately, knowing who the

potential customers for your firm is the main goal. The products that should be offered is

also determined, and each is designated to a specific segment that will find these productsuseful.

The next step is proper product positioning. If your firm has already developed a good

segmentation andtargeting strategy, the next step is to create a positioning strategy. This

means finding a good strategy that properly put a brand in front of customers that will

respond to it. This gives your firm a positive image and be competitive in the market.

Positioning comes in several forms, such as promotion, product, price, advertising,

publicity and selling differentiation positioning.

Kinds of Targeting Strategies

A firm looks for potential market segments. Once its determined these segments, it will

then proceed on targeting segments with services or products whichconsumersbelonging

to that segment would most likely respond to. In other words, a firm targets the needs of

the consumers within each segment. There are several targeting strategiesto achieve this.

The following are some of them.

Niche or concentration marketing a firm can choose to target one specific niche (a

group of customers) with similar interests in the overall market. All of the firmsadvertising resources is poured into this niche. For example, Jordans, a cereal firm,
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targeted a small group of customers that preferred organic products. Niche marketing

works best for small businesses that dont necessarily have to target large audiences. The

disadvantage of course, is the limited sales growth, and a decline in sales can easily kill

that firm.

Mass or undifferentiated marketing a firm may sell products or services and target

them to the entire market. The premise is that customers have identical or very similar

needs. Low costs production can allow a firm to have mass production. The high volume

of sales should compensate for the cheap price per unit product. The disadvantage of this

type of marketing is that nowadays more people would pay premium prices to have

products personalized for their own needs.

Differentiated or selective marketing each segment in the market is targeted to supply

products that fit the common needs of consumers in each market. Thus, a lot of brands

are made for one firm. Consumer satisfaction is likely to go up because consumer needs

are met more closely, and consumer loyalty is at a high. Risks are also spread; as one

brand declines the rest are not that much affected. The disadvantage is that customers

may be confused by the various brands presented them. Its also more expensive to

advertises not just one brand but several brands

Finding and Selling your Target Market

While mass advertising became popular, it was only beneficial to firms that had the

resource to advertise in a large scale. Businesses realized that in order to be successful

they need to do two things: know who their customers are, and second, know who are the

customers who will buy their products. As a business, you cant assume that everyone will

buy your product. That kind of assumption will only make your business fail, as it leadsyou to make wrong decisions, prices, andmarketing strategies.

Firms are successful when they acknowledge only a few are willing to buy their products

or services. By doing so, all resources are directed towards knowing those people and

finding ways to target them. Thats how to make your business stronger; by identifying

your target market. Dont sell products that try to please all. Make very specific goals

and decisions for market planning. Furthermore, understand that people buy products

because they want to satisfy their needs, want to solve problems, and want to feel good

about themselves. Use this information to know what kind of products you want to sell.
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Contextual targeting is the practice of aiming youradvertisingeffortsdirectly at the audience who is interested in your product. At its core, it is an advanced

form of context advertising online or a smart form of context advertising based on the

content that is provided within a website. The aim of contextual targeting is to place your

advertisements on web pages that deal specifically with your product so that you reach

onlyconsumers who are interested in your product or service instead of a wide range of

people who may have little interest in what you are selling.

A great example of contextual targeting is GoogleAdwords which works by scanning the

content of a webpage and then placing advertisements on the page that are directly

related. For example, you may visit a website that is largely about hot dogs, but instead of

receiving advertisements about canines, you receive ads about the food item because

contextual targeting is smart enough to define the difference in the terms and context of

the word dog. Placing yourmarketingprojects in the hands of a group that offers

contextual targeting or placing advertisement on your website using contextual targeting

is a great way to receive higher profits for your business because you are focused directly

on your target audience.

Of course, there is some human logic behind contextual targeting and a great deal of that

comes from extensive behavioral research. By identifying the way people browse the web

it becomes easier to identify what contextual advertising venues are the best for reaching

a target audience. There is of course some subjectivity in contextual targeting as there is

in any marketing venture, but if a reliable service or consultant agency is used than

generally the results of contextual targeting include doubling profits by at least half.

With contextual targeting growing in popularity, especially since Google offers the

service, it is almost essential to use a part of the concept in allonline marketing projects

or risk falling behind in the competitive market. From small to large businesses and

organizations marketing strategies are getting much more competitive online, so it is

important to utilize every tool that is at your disposal for success including contextual

targeting. With the right marketing team or a specialized consultant group contextual

targeting can be used to cater your advertisement to a target audience instead of waiting

for your target audience to find your information, product, or service.

Time On TargetFrom Wikipedia, the free encyclopedia

(Redirected fromTime on target)
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This article has multiple issues. Please helpimprove it or discuss these issues on thetalk

page.

It does not cite anyreferences or sources. Please help improve it by adding

citations toreliable sources. Tagged since July 2008.

It may require cleanupto meet Wikipedia'squality standards. Tagged since July 2008.

It needs attention from an expert on the subject. Tagged since March 2010.

Time On Target (TOT) is the military co-ordination ofartilleryfire by many weapons so that all the

munitions arrive at the targetat precisely the same time. The military standard[who?] is plus or minus

three seconds from the prescribed time of impact. In terms of place, the historical standard was for

the impact to occur within onecircular error probable(CEP) of the designated target. CEP is the

area on and around the target where most of the rounds will impact and therefore cause themaximum damage. The CEP depends on the caliber of the weapon, with larger caliber munitions

having greater CEPs or greater damage on the target area. With the advent of "smart" munitions

and more accurate firing technology, CEP is now less of a factor in the target area.

[edit]Origins

The theory of TOT was first developed by the US Army shortly beforeWorld War IIto help improve

the effectiveness of artillery firepower, but the levels of communication and co-ordination required

to achieve it were not reliably established until after WWII[citation needed]

It had been found during theWorld War I that most of the casualties in an artillery bombardment

occur within the first few seconds. During the first few seconds however troops may be in the open

and may not be prone. After that enemy troops have gone prone and/or sought cover. This

dramatically lessens the casualties fromshrapnel or high explosive blast. World War II Allied

artillery units were often trained to fire their guns in a precise order, so that all shells would hit a

target at the same time, delivering the maximum possible damage.

[edit]Practice

When multiple artillery units are firing it is important to coordinate the TOT so that all units

participating have their rounds land in the target area at exactly the same time as late arriving

rounds do proportionally far less damage than the initial ones. The TOT calculations thus include

distances of participating units and the speed (muzzle velocity) of projectiles involved.

A shorter TOT usually means a smaller or less important target, and the deployment of less

artillery or aircraft. A longer TOT means that the target is large or extremely important, so

preparations for a massive bombardment or air strike will take longer.

As field artillery encompassed fire support, TOT also encompassed alldelivery systems: close airsupport, naval gunfire, attack aviation, and direct fire ground systems. Therefore, TOT now
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designates the exact time and place where all weapon systems now focus firepower to destroy or

neutralize the enemy target

Targeting Strategies

JANUARY 18, 2010

inBEHAVIOURAL TARGETING

What are Targeting Strategies?

Targeting strategies are generally used in termsofadvertising as ways to maximize sales profits bydirecting marketing projects directly at the most likelyconsumer base. There are several differenttargetingstrategies but the basic goal of each remains the same,

to identify the target market or audience who is mostlikely going to be interested in buying your product sothat you reach the people who will make a purchase. Ingeneral, the aim is to spend money reaching onlyconsumers who want your services instead of a wideaudience out of which only a few people may beinterested in your services or products.
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Different Kinds of TargetingStrategies

Along these lines, some of the most popular andfrequently used targeting strategies areconsumermarketing strategy,behavioral targeting, contextualtargeting, and segment marketing. The common link ofmost of these targeting strategies is based aroundidentifying the needs of your target audience andtailoring your marketing efforts so that you meet theirneeds and wants. Of course, in order for any of these

strategies to work to their best they also require theproper consumer research to identify who your targetaudience is.

Offline Targeting Strategy

A popular offline targeting strategy is to create a brandname and style that carries a stigma that your target

audience can identify with. For example, back in thenineties when the economy was still healthyAbercrombie and Fitch marketing affluence andexclusivity at middle class society and as a resultcreated a clothing label out of thin air that was therequirement for all teens and college kids. Theirsuccess did not happen overnight as they participatedin wide consumer research strategies throughout their

period of success to provide what they deemed theiraudience wanted.

Advertise to your Target Audience!

For an online business, targeting strategies includeconsumer research that focuses on the willingness oftheir target audience to spend versus the relative needthey have for a product. It also focuses on the
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consumer behavioral habits of consumers which areroughly defined as browsing habits. Then, the real trickis placing marketing advertisements in an area where

the target audience surfs that is directed at theresearch that defines what will make them bite. Whileit is a twofold process, the payout is that most browserswill take the chance to look at the product offering andmaybe purchase versus a wide scale marketing effortthat only succeeds in a few people taking a glance

target value

Definition

Aimed-for output from a process, or result from ameasurement.

target stock levelDefinition

The amount ofinventoryrequired to meet all demand.

target riskDefinition

The prospectivepolicyholders, divided by race, age, sex and

other demographics.
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target start dateDefinition

The calendar date on which a project or goal is to be initiated. This is an

estimated date that can be adjusted as the day approaches to launch the new

project or endeavor.Project managers set target start dates to begin a

project, but often have to delay and set an "actual start date" when all

unforeseen obstacles have been removed. Also called projected start date.

targeting strategy

Definition

The selection of potential customers to whom a businesswishes

to sellproducts or services. The targeting strategy involves segmenting the

market, choosing which segmentsof the market are appropriate, and

determining the products that will be offered in each segment. A business

offering multiple products can determine if the various segments

should receive one generic product (such as inmass marketing), or if each

segment should receive a customized product (multi-segment), based upon

themarket'sdiversity, maturity, the level ofcompetition and

the volume ofsales expected. Also called targeting

target priceDefinition

An opinion of an analyst or investor about the future priceof a

security. Analysts typically offer target price opinionsfor the next 12 months.

target population

Definition

A particular group of people that is identified as the intended recipient of

an advertisement, product, orcampaign. Also called target audience.
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target market identification

Definition

The process of a marketer in identifying the most profitable areas to offer a

new product or service. Target market identification looks

at characteristics including disposable income, age, and level ofeducation.
http://www.businessdictionary.com/definition/process.htmlhttp://www.businessdictionary.com/definition/marketer.htmlhttp://www.businessdictionary.com/definition/offer.htmlhttp://www.businessdictionary.com/definition/product.htmlhttp://www.businessdictionary.com/definition/final-good-service.htmlhttp://www.businessdictionary.com/definition/characteristic.htmlhttp://www.businessdictionary.com/definition/disposable-income.htmlhttp://www.businessdictionary.com/definition/education.htmlhttp://www.businessdictionary.com/definition/process.htmlhttp://www.businessdictionary.com/definition/marketer.htmlhttp://www.businessdictionary.com/definition/offer.htmlhttp://www.businessdictionary.com/definition/product.htmlhttp://www.businessdictionary.com/definition/final-good-service.htmlhttp://www.businessdictionary.com/definition/characteristic.htmlhttp://www.businessdictionary.com/definition/disposable-income.htmlhttp://www.businessdictionary.com/definition/education.html

What is Section Targeting and How Do I Implement It

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