Discuss a business/product/service that you feel has either correctly identified their target market OR has not correctly identified their target market. Include 2 scholarly citations to support your thoughts.
A practical example of a business which has clearly identified their target market is American Express India. They provide credit card services to their customer in India and abroad. The target segment they have chosen is people who earn more than $8800 gross salary yearly. The eligibility criterion for applying for an Amex credit card is income as well as previous credit history. The target segment for American express is top earners of the society, business entrepreneurs, and corporates.
The positioning and targeting of the company have worked so well for them that people have developed a faith in American express services which are available for only a niche segment of the society. This creates a pride in availing Amex as a service. This also serves a superior customer service levels which makes loyal customers in the long run. Amex has become one of the world's most recognized and respected brands. The strategy has also helped the firm in reducing the credit default risk and non-performing assets.
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