Target Market Strategy

The target market of your product is important because you need to identify your market to decipher how to sell your product.“Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets” (26). The market for my product is quite limited to only two very specific groups. This is due to product and packaging design as well as the place I will be selling the product. “The target market strategy identifies the market segment or segments on which to focus. This process begins with a market opportunity analysis (MOA)—the description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in these market segments. After the firm describes the market segments, it may target one or more of them” (26). The target market for my product are trendy and environmentally conscious millennials and middle aged women.