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A target market, also known as serviceable obtainable market ( SOM ), is a group of customers within a business 's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit ...
Niche market. A niche market [note 1] is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that it is intended to target. It is also a small market segment.
t. e. Market research is an organized effort to gather information about target markets and customers.It involves understanding who they are and what they need. [1] It is an important component of business strategy [2] and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the ...
Market segmentation is the process of dividing up mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...
Marketers and advertisers make a distinction between the target audience for an advertising message and the target market for a product or brand. [74] By definition, the target audience is the intended audience for a given advertisement or message in a publication or broadcast medium, while the target market consists of all existing and ...
The target federal funds rate is a target interest rate that is set by the FOMC for implementing U.S. monetary policies. The (effective) federal funds rate is achieved through open market operations at the Domestic Trading Desk at the Federal Reserve Bank of New York which deals primarily in domestic securities (U.S. Treasury and federal ...
Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors. It is different from the concept of brand awareness. In order to position products or brands, companies may emphasize the distinguishing features of their brand (what it is, what it does and how ...
Search engine marketing uses search engines to reach target audiences. For example, Google's Remarketing Campaigns are a type of targeted marketing where advertisers use the IP addresses of computers that have visited their websites to remarket their ad specifically to users who have previously been on their website whilst they browse websites that are a part of the Google display network, or ...