Market targeting is a pivotal concept in the field of marketing, playing a crucial role in determining the path and success of a business. Widely examined by marketing scholars, especially by “Kotler,” the concept of market targeting can be defined as a group of individuals with common needs and characteristics that a business decides to serve.
In simpler terms, the target market is identifying a group of audiences for whom your products or services are suitable. For example, if your product is children’s clothing, is it really designed for individuals without children? This question is fundamental because our target market not only determines our audience but also plays a significant role in formulating marketing strategies.
Kotler, emphasizing on the four key pillars of marketing—target market, customer needs, integrated marketing, and profitability