The concept will be of particular benefit to small business owners and marketing managers. It explains the process of breaking a market into segments with the aim of concentrating marketing efforts on one or a few key segments. It also presents the most important advantages and pitfalls of targeted marketing.
Targeted Marketing Definition
Targeted marketing involves adapting company offerings so that they more closely match the needs of one or more segments (Kotler et al.,1999). Targeted marketing offers several benefits over mass marketing: the company can market more efficiently, targeting its products or services, channels and communications programmes towards only consumers that it can best serve (Kotler et al., 1999).
Targeted Marketing Description *
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Targeted Marketing Strengths *
Targeted Marketing Weaknesses *
Examples of Targeted Marketing *
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Targeted Marketing Implementation *
Success Factors of Targeted Marketing *
Measures of Targeted Marketing *
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Targeted Marketing Videos *
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Targeted Marketing Web Resources *
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Targeted Marketing References (4 of up to 20) *
- Apte, C., Bibelnieks, E., Natarajan, R., Pednault, E., Tipu, F., Campbell, D. and Nelson, B. (2001) Segmentation-based Modeling for Advanced Targeted Marketing. Proceedings of the Seventh ACM SIGKDD International Conference on Knowledge Discovery and Data Mining, San Francisco, California: ACM.
- Baxter, N. (2007) Targeted Marketing Can Hit The Spot. Mortgage Strategy, pp.45-45.
- Bayus, B. (1993) The Targeted Marketing of Consumer Durables. Journal of Direct Marketing, Vol. 7(4), pp. 4-13.
- Doyle, P. and Stern, P. (2006) Marketing Management and Strategy. (4th Ed.) FT Prentice Hall.
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