In the retail business, we can mention that market is people who have needs and we can satisfy them with our product. From the type of market, almost all of retail business market is a consumers market, namely individuals who purchased items in outlets for direct consumption. And the market is very diverse types and characteristics. Let us take the example of magazines, currently there is a magazine for toddlers, elementary, junior high, high school kids, to adults. Such groupings in terms of marketing management is called segmentation.
After we do the segmentation, then we choose one, two, or three segments that actually became our target market. This actions called targeting . In other words targeting is selecting sales targets based on market segments that exist. With the targeting, then the employer will continue to focus work on the segment that has become a target.
There are several aspects that can be used to determine the target market segmentation and targeting, namely:
1. Demographic aspects
This aspect is discussed on the condition of residence around our business environment, such as the number of housewives, the number of children, number of people who are married, and so on.
2. Aspects of lifestyle
This aspect of analyzing the cultural values of the people living around our business. The example in this aspect as such as the way they spend their weekends, their social status, the way they dress, etc.
3. Aspects of customer needs and wants
Understanding of the target market can also be strengthened by analyzing customer needs and wants. The way to know this question is through questions such as the importance of shopping convenience, the level of service they want, the quality of the goods they want, etc.
After segmentation is formed, and the target has been determined, it is time for us to do the positioning. Positioning is to place our products on predetermined targets. In other words, we inform the target that we have a product that fits their needs. Expectations of this positioning is of course that our products can be accepted by the target market.
Segmentation, targeting, and positioning is a unity that can not be separated. Forming segmentation correctly, determine the appropriate target, until finally carefully positioned the product, is the key to successful business development.