A business may have more than one target market—a primary target market, which is the main focus , and a secondary target market, which is not as large but still has growth potential. Toy commercials are targeted directly to children. Their parents are the secondary market.
What are secondary target markets?
A secondary target market is the group of people who are the second most likely to purchase your products and services .
How do you find the primary target market?
- Look at your current customer base.
- Check out your competition.
- Analyze your product/service.
- Choose specific demographics to target.
- Consider the psychographics of your target.
- Evaluate your decision.
- Additional resources.
What are the 3 target markets?
Although you can approach market segmentation in many different ways, depending on how you want to slice up the pie, three of the most common types are demographic segmentation, geographic segmentation, and psychographic segmentation .
What are the secondary and tertiary target markets?
The secondary target is composed of consumers who may want to purchase your product through persuasive advertising , from word of mouth knowledge and by trying the product initially. The tertiary target audience is the group of consumers who want to wait and see.
What is a target market example?
A target market is the segment of consumers most likely to want or need a business’s products or services . This group of people is a subset of the business’s total market. ... For example, a children’s toy may have boys ages 9–11 as the target market and the boys’ parents as the target audience.
What is primary target market cite an example?
A primary target market is the segment of a marketplace a business believes will give it the best chance to sell. A primary target market may not be the largest segment of a marketplace. For example, the majority of people who play golf may be men under age 50 .
Who would be your primary and secondary target markets?
The primary target market is the group of consumers a business covets the most or feels is most likely to be the purchaser of its product or service. The secondary target market is the next market that most appeals to the company.
Who are primary and secondary customers?
The primary customer is typically the customer who will spend the most . Your secondary audience may not spend as much or as often, or they may not even purchase at all. Understanding the differences between your customer base segments may take some market research.
What is the difference between primary and secondary target market?
The primary market is the target market selected as the main focus of marketing activities and most of the firm’s resources are allocated to the primary target. The secondary target market is likely to be a segment that is not as large as the primary market, but may have growth potential .
What is a target market strategy?
The market target strategy (sometimes called targeting marketing) decision is a choice of the people or company in a product market that a company will target with its positioning strategy . This is what it’s all about: the art and science of zeroing in on the people who will most likely become your customers.
How do companies choose a target marketing strategy?
Look at the types of customers who are likely to purchase your products and use your services. Consider things such as age, gender, income level, marital status, occupation, educational level, gender and ethnic background. Identify which customer categories have the greatest need for your products.
How do you evaluate a target market?
- Analyze your offerings. Ask yourself what problems your products and services solve, and, in turn, to whom they appeal. ...
- Conduct market research. ...
- Create customer profiles and market segments. ...
- Assess the competition.
What is the primary and secondary target markets of Nike?
The secondary target market is basically ALL consumers . Nike carries products for practically everyone, especially athletes. ... Ultimately the consumers are the primary concern of a business, because if there wasn’t a market for Nike’s products then the major businesses wouldn’t stock them in their stores and online.
What is a secondary target market example?
A secondary target audience is simply the second most important consumer segment you’d like to target . ... For example, a shampoo manufacturer that targets men with long hair might determine that this is a secondary audience because it’s a relatively small group.
What is the difference between primary and secondary audiences?
Primary audience consists of person(s) to whom a message is directed. ... The persons that are directly addressed make up the primary audience. Secondary audience consists of persons who may not be direct recipients of communication , but may have some interest in the message for record-keeping or other reasons.
