Companies or their marketers operating in a big market cannot connect to or serve all the customers at effectively at the same time. Instead of targeting the entire customer base and competing in each and every market, marketers need to identify the proper market segment based on the product attributes. Selecting proper market segment and targeting the same helps the marketers to focus on small markets to connect to the customers in the best possible way. This division of overall market into different segments and target the most suitable segment is called the “Target Marketing”.
Target Marketing consists of three main steps