
Once we, marketers, have determined our business products or services, we must accurately identify our target markets. The target market is the actual customer group, or audience, in which our business will attempt to sell its products and services. Target marketing tailors a marketing mix for one or more segments identified by market segmentation and usually contrasts with mass marketing, depending on the industry, the competition, the marketing budget of the business, NGO vs non-NGO, etcetera. Many techniques have been used in order to select the target markets, such as statistical regression (Bult&Wansbeek, 1995), neural...