TARGET MARKETS

A company rarely satisfies everyone in the market. Not everyone likes car, two wheeler, soap, shampoo, mobile phone and movies. Even those companies that practice the production concept are able to truly satisfy only a small part of their markets. Marketers must begin by dividing up the markets into smaller groups of customers by looking for people who share their needs. These groups are then identified using variables such as age, income, gender, lifestyles, values and attitudes to name a few. This process is known as target market.