Marketing and Sales, Target market identification and segmentation

What is Target Market?

A target market is the group of people a business wants to sell its products or services to. These are the people most likely to buy it.

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What is Market Segmentation?

Market segmentation means dividing a large group of people (the market) into smaller groups based on things they have in common like age, interests, or location. This helps businesses focus better and sell more.

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📊 4 Main Types of Segmentation:

Type	Based On
Demographic	Age, gender, income, education
Geographic	Country, city, weather
Psychographic	Lifestyle, interests, values
Behavioral	Habits, brand loyalty, buying use

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🧾 Example: Selling Laptops to Students

Let’s say a company wants to sell laptops to students. Here's how they can identify and segment the market:

🎯 Target Market:
College and university students who need laptops for online classes and assignments.

🔍 Market Segments:

Segment Type	Example Details
Demographic	Age 18–25, enrolled in college/university
Geographic	Students living in hostels or urban cities
Psychographic	Interested in technology, productivity, design
Behavioral	Frequently use laptops for study and streaming

7 P’s of Marketing, Developing a marketing strategy, branding:

 

📘 7 Ps of Marketing (Marketing Mix)

The 7 Ps of Marketing help businesses plan how to market their product or service effectively:

P	Meaning
1. Product	What are you selling? (e.g., a book, burger, or app)
2. Price	How much will it cost? (e.g., low-price, premium, discount)
3. Place	Where will you sell it? (e.g., store, online, delivery)
4. Promotion	How will people know about it? (e.g., ads, social media, discounts)
5. People	Who is involved? (e.g., staff, customer service, sales team)
6. Process	How do you deliver your product? (e.g., order steps, payment, packaging)
7. Physical Evidence	What proves your service exists? (e.g., receipts, websites, reviews)

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🚀 Developing a Marketing Strategy

A marketing strategy is a plan that helps a business reach its goals by identifying:

 

1. Target audience (Who are the customers?)
2. Value proposition (What problem does the product solve?)
3. Marketing mix (7 Ps) – How will it be sold?
4. Goals and Metrics (How will success be measured?)

✅ Example:

A student selling homemade snacks at university:

• Target: Students between 18–25 who need affordable lunch.
• Strategy: Promote via WhatsApp groups, offer discounts on combos, and get customer feedback weekly.

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💡 Branding – With Example

Branding is how a business creates an identity in the minds of customers. It includes a name, logo, color, slogan, and tone.

✅ Example: Nike

• Slogan: "Just Do It"
• Logo: ✔️ Swoosh
• Brand identity: Motivates athletes, sportswear with energy and confidence

✅ Student Example:

If a student group starts a startup called "SnackXpress", the brand could be:

• Logo: Fast-moving cart icon
• Slogan: "Fresh. Fast. Friendly."
• Uniform colors: Orange and white
• Purpose: Healthy snacks delivered in under 10 minutes on campus