Effective Targeting
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A firm may go after three or four targeting segments if they have enough capability, skill set. They also select one to go after if their condition is limited. There are three factors in effective targeting. The first is a company should align its capability, capacity, resources to the benefit of a segment that is seeking. If they choose a segment they cannot provide it with a product it is seeking, the company will fail. The second is the company should leverage its technological knowhow, skill set to meet the need of a segment that is seeking. The last is a segment the company is targeting should be consistent with who the company is. That means we are true with brand identity. We cannot change or alter in a wrong direction to align with needs of a segment.
In competition, we should think twice to compete with a giant as we may not have enough resources, knowhow, skill set to confront. A targeting is effective when you make a combination of marketing mix. You should make a marketing mix to meet different segments rather than a universal marketing mix for all segments as each segment, by definition, has different needs they are seeking, different benefit they want. You should alter provided that you still align with your brand identity.
In competition, we should think twice to compete with a giant as we may not have enough resources, knowhow, skill set to confront. A targeting is effective when you make a combination of marketing mix. You should make a marketing mix to meet different segments rather than a universal marketing mix for all segments as each segment, by definition, has different needs they are seeking, different benefit they want. You should alter provided that you still align with your brand identity.