What is targeting in marketing?

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As a company's product sales increase, it can also expand its target market internationally. International expansion allows a company to reach a broader subset of its target market in different regions of the world.

In addition to international expansion, a company may also find that its domestic target market expands as its products gain more traction in the marketplace. Expanding and growing target markets are one more reason for companies to keep an eye on their sales and customer preferences for evolving revenue opportunities.

Important: A company can have more than one target market: a primary target market, which is the main one, and a secondary target market, which is not as large but still has growth potential.

Key points
A target market refers to a group of customers to whom a company wants to sell its products colombia consumer email list and services, and to whom it directs its marketing efforts.
Consumers who make up a target market share similar characteristics, including geography, purchasing power, demographics, and income.
Identifying the target market is important for any company when developing a marketing plan.
Not knowing who the target market is can cost a company a lot of money and time.
market segmentation

Segmentation in marketing is a strategy that divides a large market into smaller segments to focus on a specific group of customers within that audience. It defines a customer segment based on their unique characteristics and focuses solely on serving them.

Rather than trying to reach an entire market, a brand uses targeted marketing to put its energy into connecting with a specific, defined group within that market.