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Companies & Market Needs: Importance of Marketing to Target

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I wrote that, a marketer should know who the target audience is, before developing a marketing program, which includes decisions about the vehicles used for promotions and advertising. The target audience is made up of a group or groups of common characteristics, such as buying habits, income, age, gender, and level of education, lifestyle and other demographics. Some of those demographics influence the types of media or vehicles used for marketing, because members of the target audience may be more comfortable with specific types of media. Each segment of the target audience may prefer a different type of media, to receive marketing messages.
A target segment that uses the internet for socializing and social networking may feel more connected to an advertising vehicle such as a video on a social networking site. A segment that does not use computers may relate better to television or print ads. Each vehicle has unique, associated cost. Employing a vehicle that does not reach specific market segments is poor management of the marketing budget. Tailoring the marketing message, using vehicles that related to specific market segments, within the target audience, is a more efficient and cost-effective use of the marketing budget. It also produces better results, because the message is designed to reach specific audiences, who will be receptive to the message and the way in which the message is presented.

a) How do you think the company's needs and the market's need work together or coexist?

What the company needs or wants to do and the market they go after is a very important aspect of marketing, and you hit on a very real world problem

b) What do you think?

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Solution Preview

A company's needs and the market's needs coexist since they are interdependent. Just as some segments are more comfortable utilizing social networking and thus will feel more connected to an online video, some products are better showcased in some formats. With video you may be able to show off special features of the product, but with a heavy bond paper you can get a rich feel and dramatic presentation that might enhance a luxury item advertisement. The key is for a company to figure out the best way to show off their product/service and then connect with target customers in the manner that is most comfortable for the consumer. It ...

Solution Summary

THis solution discusses how a company's needs and the market's needs work together and coexist and the importance of knowing the target market to address so that the proper form of communication is used. It gives examples of companies, their target audience, and the way which they market to that audience.