Target marketing and aggressive pricing have helped McDonald’s consistently maintain the largest fast food market share in the United States. For this segment, they provide play areas, happy meals complete with toys, and marketing campaigns featuring Disney characters and Ronald McDonald. įor example, one of their core target markets is young children. McDonald’s is the most valuable fast food brand in the world, and it’s a fantastic example of demographic target marketing.Īlthough McDonald’s has grown to target multiple markets and audiences, they’ve created dedicated products and marketing campaigns for each segment. This target market can be segmented by things like geography, demographics, and psychographics. It is to carefully define the target market and direct a superior offering to that target market.” To cut through the noise, you need to create products, services, and marketing campaigns for a specific, well-defined group of people.īecause if you don’t? At best, they’ll be bad products or services that don’t fully meet the needs and desires of your customers.Īs marketing author Philip Kotler once said, “There is only one winning strategy. Drucker said, “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” Plus, a target market typically contains the end users of a product or service. Identifying the target market is an essential step in the development of products, services, and the marketing efforts used to promote them. Plus, I’ll show you how to identify the market that your business needs to focus on to thrive.Ī target market is a specific, defined segment of consumers that a company plans to serve with its products or services. In this article, you’ll learn what is target audience. You’re Amazon as it was 24 years ago, and you have to start small - just like Jedi Bezos. Today - twenty-four years later - Amazon has earned the ability to target everyone. Good Ol’ Jeff only began expanding after four years of hard work establishing a successful organization. In other words, Amazon had a well-defined and very specific target market. And even then, they did it online only - which, in 1994 was an extremely niche audience. Okay, I know what you’re thinking: “But what about Amazon, Tom? They target everyone in the entire world!”įor four years between 19, Amazon just sold books. What’s more, if you answered something like “we target everyone,” or “we cater to a wide range of people,” you’re in even bigger trouble, my friend…īecause if you target everyone, you’re actually targeting no one. If you don’t have incredibly specific answers to these questions, you could be in big trouble. Who is your target audience? What is your target market? Why?
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