Target Market Strategy

“The customer-driven marketing strategy… outlines which customers the company will serve (the target market) and how it will serve them (the value proposition).” (Marketing: an Introduction, Ch. 1, Pg. 12) That said, I intend to market my product to any bar that will have it, and even more importantly, those who visit such places in order to socialize and relax.

“A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve. Market targeting can be carried out at several different levels… companies can target very broadly (undifferentiated marketing), very narrowly (micromarketing), or somewhere in between (differentiated or concentrated marketing).” (Marketing: an Introduction, Ch. 6, Pg. 186) I suppose I'll be marketing very broadly, as bars (or bar-like places) are hard not to find in any town around the world.

Of course, I'll have to figure out how to market to these people. Ideally, observational research should suffice in seeing how people respond to my product and how I can best create value for them. “Observational research involves gathering primary data by observing relevant people, actions, and situations.” (Marketing: an Introduction, Ch. 4, Pg. 110) I'll send representatives to bars, first in a few places and on a small scale, then on a larger scale as the product builds momentum on the market.