Strategic Analysis of Target Marketing for ABC Corporation (Marketing)

This assignment delves into the concept of target marketing, defining it as the process of segmenting a market and focusing on specific groups of customers whose needs align with a business's offerings. It examines the characteristics of target markets, emphasizing the importance of market segment...Read More

Answer to Question no 1
Target marketing refers to disintegrating a market into various segments and then focusing
upon any one or some of those segments comprising of the clients whose requirements and
wishes most aptly contest to your goods or services It can be one of the methods to draw
novel business, enhance sales and ensuring that the business is running successfully. The best
part of this kind of marketing is that it concentrates its marketing efforts towards particular
groups of buyers which makes it simple and easy to promote, fix up the price of the product
and distribution of the goods as well, thereby making it a cost efficient affair (Ward, 2017).
The basic outlook of this kind of marketing is that all the goods are not suitable for all people,
thus each and every good cater to a particular segment of audience. Hence it can be
understood that there are four broad characteristics which enable defining what a target
market means. First and foremost the producer or the seller should segment the entire market.
Segmenting means categorising the clients into various groups which are meaningful. It can
be on the basis of demographics, thoughts, behaviours, needs or values. Mostly, markets are
segmented basis demographics. Post segmentation of the entire market, one has to now chose
the target audience to whom the company would target to sell its goods. Target marketing is
done to search for that segment of customers who would yield them maximum sales as
customers would be many but the most loyal ones would be a small set amongst the many
customers (printmag.com.,2018). Further to this, target marketing also calls for dividing the
segments chosen further down into sub-segments which would entail a detailed strategy for
the company to grow in the short term as well. Lastly, target marketing also calls for
tweaking of a product so as to meet the needs of its target audience or segment (Hopps,2008).
Thereby it can be said that the said of marketing entails the corporates to check out on the
sales and the requirements of the clients for developing more ways and means of generating
revenues.
REFERENCES:
Hopps,J., (2008), Target Market Selection Segmentation and Positioning, Available at
https://blog.demandmetric.com/2008/08/06/target-market-selection-segmentation-and-
positioning (Accessed on 22nd May 2018)

Printmag.com., (2018), 4 Steps for Defining a Target Marketing, Available at
http://www.printmag.com/design-education/4-steps-for-defining-a-target-audience/
(Accessed on 22nd May 2018)
Ward,S., (2017), Target Marketing, Available at https://www.thebalancesmb.com/target-
marketing-2948355 (Accessed on 22nd May 2018)
Answer to Question number 2
A mortgage broking firm basically act as an intermediary who brings the buyers and sellers
on the same platform. A broker is an ‘enabler’ of a specific deal being fulfilled between the
borrower and the lender and he takes care of the fact that the benefit is not inappropriate for
the client. The mortgage broking firms also concentrate their efforts towards finding the apt
target market as their work may not be use of every person around. Their main work is to
generate mortgage leads which is possible basically via getting hold of an appropriate target
audience. There is a wide choice of probable target markets for such a firm owing to the
varied choices of credit needs across various areas of the economy. A job of a mortgage
broker is not easy as simply by getting the borrower and the lender together does not serve
the purpose, a detailed profile of the borrower has to be first and foremost studied so that the
lender would be interested as well and if the deal cracks, the broker would also earn a
brokerage and the lender would also want to do more business with the firm. Here both the
borrower as well as the lender are its customers. Lastly a mortgage broking firm can find the
right target market by creation of a positioning statement for each distinct customer sector.
Positioning statements would ensure development of persuasive messages which would
attract the prospective lenders as well as borrowers, thereby ensuring the firm earns good
brokerage (Linton, 2017).
However, whatever be the marketing strategy adopted by the companies or individuals, it is
crucial to align the target market chosen with the business else there would be no positive
results. It is a compulsion to match the essential coalition between the product being offered
by the firm and the marketing strategy adopted. The product a business is offering should be
always communicative and inter-reliant with the marketing strategies. Narrowing down to
the chosen target market and working with qualities is construed to be very crucial input for
a particular good or service being offered. It is very important to ensure that the product
being aimed to be delivered by a business matches with the audiences’ needs and

requirements else the alignment can be mismatched leading to an unbalanced situation. Thus
aligning the target market with business simply connotes bringing the offerings of the
business to the right kind of people at the right time and modifying some specifications to
meet the target markets audience needs (Berry,2014).
REFERENCES:
Berry,T., (2014), Align Business Offering with Target Market, Available at
https://leanplan.com/align-business-offering-target-market/ (Accessed on 22nd May 2018)
Linton,I., (2017), How to Create a Target Market Profile and Positioning Statement,
Available at http://smallbusiness.chron.com/create-target-market-profile-positioning-
statement-40517.html (Accessed on 22nd May 2018)
Answer to Question no 3
Since the firm is a mature one, hence my target market would comprise of a blend of clients
with regards size, complexity of needs and fee levels, as being old in the industry, I can play
with all these factors to grab more clients and increase profitability of the firm.
Answer to Question no 4
ABC Corporation is a partnership firm which is into the business of enabling the borrower
and lender to come together and ensure that maximum benefit is derived by the client, i.e
mortgage broking. We are into the business from two decades now and our clients are highly
satisfied with the services being provided to them. We are basically into easing out the
procedures for getting home loans and infrastructural loans for the factory set ups. Our
present clients are repetitive as we offer them a wide range of choice to pick from when they
wish to buy a house and take a loan for the same. The staff who is working with us have a
minimum of five years of experience in this field, thus ensuring to provide the best possible
choices basis the needs of its customers. Lastly, we focus on providing he maximum
convenience to our clients as they would definitely want a hassle free work. Not only the
clients receive quality but also price benefits depending upon the volume of the transaction.
We charge a fees only once a deal is cracked and the amount is determined by taking into
account the commission received to pay for the fee.

Thus the said proposition makes it clear that a client can get a competitive deal both quality
as well as price wise. We ensure to provide a suitable solution to each and every client
irrespective of the size as we believe that a small sized client can become a big sized client
soon in the near future.