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Target Market - Describe the target market within the new country. If this market differs from...

Target Market - Describe the target market within the new country. If this market differs from an existing market, explain how the firm will change its marketing strategy to meet the needs of this new market. Focus on the target market’s needs and how the benefits of the product will meet its needs.
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Answer #1

1. Target markets are generally characterized by Demographics, Psychographics, Geographical locations and Business industry.

2. These Target markets without generally reaching the entire market tend to reach specific market based on the above four mentioned factors.

3. Demographics include age, education, race, religion, gender, etc., Psychographics include lifetstyle, interests, values, etc., and the other two factors as known to us usually.

4. Targeting in Marketing is significant as it serves directly to defined audience and increases the value of the product and stay focused.

5. For example, high income group people tend to likely buy specialty coffee right from the Starbucks rather from the Dunkin' Donuts.

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