Market Targeting Market targeting is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter. The key steps in target marketing are market segmentation, market evaluation, and product positioning. Market segmentation means dividing mass markets into distinct groups of buyers with relatively homogeneous preferences, attitudes, or behaviors, which distinguish them from the rest of the market. Second step after Market segmentation is market targeting.
Market targeting also known as market evaluation that means assessing the sales potential of each segment and selecting the segments that are most suitable for exploitation.
Sales potential is a function of the number of people in the segment, their disposable incomes, and their willingness to pay for product attributes, together with the organization’s ability to serve them. Indicators of sales potential include size, growth rate, price sensitivity, current usage in the product category, etc.
When all segments have been analyzed, the marketer can choose to accept them at five levels: single segment (one product to one segment only), selective specialization (one product to more than one unrelated segments), product specialization (one product to several segments), market specialization (more than one products to a particular customer group), or full market coverage (one or more product to all customer groups).
DEMOGRAPHIC 1. AGE 2. RACE 3. GENDER 4. MARITAL STATUS 5. OCCUPATION 6. EDUCATION 7. INCOME GEOGRAPHIC 1. COMMUNITY 2. STATE 3. REGION 4. COUNTRY
PSYCHOGRAPHIC 1. LIFESTYLE 2. GROUP BEHAVIORAL 1. PATTERN OF USE always in air conditioner temperature and make skin dry 2. PRICE SENSITIVITY Moderate price 3. BRAND LOYALTY Same packaging and easy to handle 4. BENEFIT SOUGHT long lasting lotion,fragrance lotion, make skin looks younger,moderate price and non-sticky lotion Customer Choice • Prefer to have long lasting lotion • Prefer to have fragrance lotion • Prefer to have lotion that make skin looks younger • Prefer to have moderate price • Prefer to have non-sticky lotion and etcetera… Company Choice
With all above customer desire, producer need to pick and choose wisely wants that customer needed to fulfill customer value and also generate profit that sustained in time. • Combine all customer wants: Long-lasting, moderate price and easy • Choose only most preferred: fragrances, non-sticky and makes skin feel soft and comfort Recommendation I have heard and read about Johnson product contained dangerous chemical that list in risk rating of 3 and 8 . Chemical name Dimethicone and fragrance. From what have I read in the website of Truthinaging. com, Dimethicone (risk rating of 3), though not great, isn’t enough to warrant a red flag.
One concern with dimethicone, a silicone-derived emollient, is that its occlusive nature (meaning that it coats the skin with an impenetrable layer) can cause irritation when sweat gets trapped underneath. Not only are synthetic silicones non-biodegradable, but they also may accumulate in the liver and lymph nodes, where they may foster the growth of tumors. You’ve probably heard of the debilitating symptoms suffered by thousands of women who have had silicone-based breast implants. Secondly, a safety score of 8 goes to Fragrance, which appears relatively high on the lotion’s list.
Because phthalates are often used in fragrances, they can creep their way into products without appearing on the label. According to Greenpeace, phthalates are suspected to do damage to the liver and kidneys, to interfere with the development of the reproductive organs, and to mimic the hormone estrogen in the body. There is a strong correlation between phthalate exposure and early onset of puberty in girls. Besides fragrance, which can provoke unwarranted irritation, Johnson & Johnson’s formula seems to go slightly haywire in the preservatives section.
Benzyl alcohol achieves a danger score of 7, surprisingly high considering that it is a less problematic preservative than most others. Because babies have extremely sensitive skin, there should be a concentration of benzyl alcohol no higher than 1%. Nonetheless, the FDA has approved benzyl alcohol lotion at a concentration of 5% as a treatment for head lice in children. Second problem is we have heard and read that Johnson company was link with Israel. From data that we founded in website Inminds. com, Johnson Company: Johnson & Johnson Products: Health.
Fact: In 1998, Roger S. Fineon on behalf of Johnson & Johnson, received the Jubilee Award of the Israeli Prime Minister Netanyahu. On October 14, 1998, Israeli Prime Minister Netanyahu presented a select group of international business people with the highest tribute ever awarded by the “State of Israel”. The Jubilee Award, marking Israel’s fiftieth year of independence, recognizes those individuals and organizations, that through their investments and trade relationships, have done the most to strengthen the Israeli economy.
In conclusion, we recommend that Johnson need to alert in every chemical use in their product so that customer will feel save while using it especially for newborn babies, people who having skin problem and also women. We also recommend that Johnson will stop to share any profit or receive any investor from Israel if they want their company fully success in a long time, because nowadays community are alert with all kind of news to boycott all product linked with Israel laknatullah. References 1.
Book Principles of Marketing Chapter 2 (Philip Kotler, Gary Armstrong) Company and Marketing Strategy: Partnering to Build Customer Relationships (page 73) 2. http://www. emmagem. com/wp/2012/08/17/beauty-review-johnsons-oxygen-fresh-gel-lotion/ 3. http://www. willamette. edu/~fthompso/ManEX/Sem112_MktSeg/mts. html 4. http://www. jnj. com/wps/wcm/jsp/showData. jsp? q=lotion 5. http://www. johnsonsbaby. com/our-promise 6. http://www. truthinaging. com/body/johnson-johnson-baby-lotions-have-high-risk-profile
Cite this Market Targeting
Market Targeting. (2016, Oct 02). Retrieved from https://graduateway.com/market-targeting/