"A target market is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges." (MKTG p 23) Choc has effectively figured just who our target market is. We're selling an all natural beauty product that uses the best organic ingredients. We have a high retail market price that puts us in the luxury beauty product category. “Any market segment that is targeted must be fully described. Demographics, psychographics, and buyer behavior should be assessed.”- Our clientel are women of all ages, Choc is not tinted but adds shine so it is used by young girls and older women. These are health conscious women who eat a healthy diet and shop at stores like Whole Food, they do not mind spending extra for a premium product. "Competitive advantage a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition". Choc is a unique product that is the first of its kind meaning we hold a competitive advantage. Products use chocolate flavorings at Choc we use the real thing creating a far superior product.
Very informative post on target market strategy, thank you!
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