Page 50 - EBOOK DPM 10013 POM-FINAL 25.10.2021

4.2 Market Targeting

If segmenting is the process by which marketers identify groups of consumers with

similar wants and needs, targeting is the act of evaluating and comparing the identified

groups, and then selecting one or more of them as the prospects(s) with the highest
potential. (Yusniza kamarulzaman, 2013)

A marketing mix is then devised that will provide the organization with the best return

on sales while simultaneously creating the maximum amount of value to consumers.
(Yusniza kamarulzaman, 2013)

For each marketer to produce superior products and services that meet the needs of

those segmented groups, market targeting is crucial. It implies that all marketing actions

have a focus or direction.

4.3 Define Target Market

A target market is a group of potential customers

to whom a business would like to sell its goods

and services. This category also covers
individual clients who are targeted by a

company's marketing efforts. A target market is
a segment of a product or service's overall

market.

A company must consider THREE (3) variables when analysing different market sectors.:

a. Current Segment Size and Growth Potential
b. Segment Attractiveness

c. Company Objectives and Resources

38