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- Types of target markets include123:
- Geographic segmentation: based on location
- Demographic segmentation: based on population characteristics such as age, gender, income, education, etc.
- Psychographic segmentation: based on lifestyle, personality, values, attitudes, etc.
- Behavioral segmentation: based on consumer behavior such as purchase patterns, usage, loyalty, etc.
- Firmographic segmentation: based on organizational characteristics such as size, industry, location, etc. (for B2B markets)
- Target market strategies: differentiated marketing (targeting different segments with different products or messages), undifferentiated marketing (targeting the whole market with one product or message), and concentrated marketing (targeting a niche segment with a specialized product or message)3.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The common types of target markets are – geographic segmentation (location-based), demographic segmentation (population-based), psychographic segmentation (lifestyle and socio-economic-based), and behavioral segmentation.www.wallstreetmojo.com/target-markets/Generally speaking, target markets usually fall into one of three segments: demographic, geographic, and psychographic. You may also hear about firmographic and behavioral segments, too. What Are the Main Types of Target Markets? The main types of market segmentation are demographic, psychographic, behavioral and geographic segmentation.www.thebalancemoney.com/target-marketing-2948…There are three different types of target market strategies you can implement – differentiated marketing, undifferentiated marketing, and concentrated marketing.adstargets.com/blog/target-market/ - People also ask
Target Market - Definition, Types, Examples, How to Choose?
What are the types of target markets? The common types of target markets are – geographic segmentation (location-based), demographic segmentation (population-based), psychographic segmentation (lifestyle and socio-economic-based), and behavioral segmentation. See more
Target markets are segments of potential customers willing to spend money on products and services. In addition, each customer has a specific product choice and budget. … See more
A business must take several actions to attract a specific segment of the market. It is a crucial component of the marketing strategy and impacts the features, price, and distribution of … See more
This has been a guide to the target market and its definition. Here we discuss how to choose a target market along with types and examples. You may also have a look at the following articles to learn more – 1. Direct MarketingDirect MarketingDirect marketing refers to a … See more
Businesses must categorize their action areas while segmenting a specific market for their marketing efforts to be effective. They can only succeed if they correctly classify their target customers in the following four categories: See more
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