Stan has clearly taken the definition of a “target market” literally –  frustrating Margot. 

The marketing plan needs to accurately define the “target market” so the products, services, pricing, and communication strategies work together.

If your products and services are not what your target market requires then they will not sell. It sounds obvious but it is surprising that so many businesses do not define it.

This failing is more common when companies develop new products and services and try to sell them to established target markets. Often new products and services will require research into their target markets. The clever strategy is to sell new products or services to established routes to market. This reduces the marketing costs dramatically.

More importantly the whole business understands the strategy and the internal and external communications are more efficient. However, this is not always possible, so marketeers need to build target market strategy for each sector in the business plan.

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