When you wish to promote your products or services, the first thing you need to do is to determine your target market. Once target market is decided, you can then make use of the four P in marketing to decide how you can deal with your target market. The Four P referred here is product, price, place (distribution) and promotion.
So, why is the target market important? The primary reason is that company exists for a reason. It needs to differentiate itself from competition in order to survive. For example if you have made a decision to sell bottled water to the general mass in the urban area, then good luck with that. In the U.S., Pepsi and Coke have extensive distribution of bottled water consumption through its Aquafina and Dasani brand. If you still insists on selling bottled water, then you need to narrow your target market. [Read more...]