A primary target market may not be the largest segment of a marketplace.
What Is a Secondary Target Market?
They differ from the most populous and profitable, primary target market in characteristics, behavior and number. Market Segmentation To improve the efficacy of a marketing strategy, businesses divide the total potential population of customers into different categories known as segments.
The business then analyzes these segments by various methods, aided by secondary and primary market research. This analysis is then used to target groups of potential customers likely to purchase their product, and tailor marketing efforts towards that group.
The extent to which a business can define or shape the needs of its customers determines the potential success of that business. This target market can be further divided in any number of ways, but most divisions include a primary and a secondary target market.
Video of the Day Brought to you by Techwalla Brought to you by Techwalla Primary Target Market A business' primary target market is the group of people most likely to buy from them.
Like market segments, the consumers comprising this market share characteristics and behaviors common to other consumers in the same market segment; the primary target market, however, and is more populous than the secondary target market, and will make up most of a business' sales.
Secondary Target Market A secondary target market is comprised of those customers second-most-likely to purchase a business' product or services.
The characteristics of the secondary target market differ from those of the primary target market, but the secondary market is related to the primary market. A secondary target market typically includes future primary buyers, which are those buying at a higher rate within a small market segment and are those who influence primary buyers.
Because the secondary target market includes future primary buyers, efforts aimed at attracting secondary buyers are an investment in the future sales of products and services.
Target market About the Author Curtis Seubert started writing professionally in He has taught writing at universities in the USA and in Japan.
Since he has lived in Japan, teaching English, writing and playing bass. He holds a Master of Arts in English literature with an interdisciplinary emphasis in quantum mechanics.
Photo Credits histogramme image by Danielle Bonardelle from Fotolia.primary target markets, secondary target market, tertiary target markets, and target markets to abandon for future development target marketing approaches undifferentiated target marketing, differentiated target marketing, concentrated target marketing, and customized (one-to-one) marketing.
Secondly, make sure you have clarity of who your target audience is. And not just clarity of your primary, but of your primary, your secondary and your tertiary target audiences. That way you can allocate your spending wisely, making sure that you’re hitting them with your key messages to move them to action so that your brand becomes.
The secondary target market has the next greatest potential to buy now or in the near future or to influence someone else to buy from you. Market Segmentation Markets are segmented by demographics, geography, buying behaviors and psychographic (lifestyle, interests, personality) traits.
|Primary Vs. Secondary Target Market | Bizfluent||Knowing your target market has many benefits to your business: Makes it easier to reach your target market with focused advertising and marketing outreach.|
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|The Marketplace||But the water gets far muddier beyond this.|
|Why do you need to segment your market?||A primary target market may not be the largest segment of a marketplace.|
Identifying Target Markets: With this background and market-definition description in mind, it is time to identify your primary, secondary, and, if necessary, tertiary markets. The primary market is the group of individuals in the addressable market most likely to buy your product or service.
The primary target market differs from secondary and tertiary market with its small segment in the market place as both secondary and tertiary are larger segment than of the primary target market but what made it more different from them is because of its goal of having to sell.
A secondary target market is that portion of a business' total potential customers second most likely to purchase its product.
They differ from the most populous and profitable, primary target market in characteristics, behavior and number.