I have recently been doing more presentations and consulting in the area of target marketing, which I have fun doing, and I realized what a perfect name Target is.
Let’s back up a bit and talk about target marketing. It has 2 components, demographics and psychographics. While demographics are important in that they narrow the focus of the marketing, the key is psychographics as that describes what benefit you give to your customers.
The name Target for the store is an excellent example of psychographics. They targeted people who want value without feeling they are in a discount warehouse, who like name brands, who seek style, and who appreciate shopping in a well lit welcoming environment. They truly targeted all their markets and continue to do so as they expand their product line in terms of need and benefit. Their food line combines name brands as well as their brand and offers one-stop shopping, another benefit.
If you aren’t sure how to analyze your psychographics, contact me. In addition to my consulting, my new e-book describing the process is available, plus I can let you know where I will present seminars on the topic.