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Target market - Onion diagram

"A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards. A well-defined target market is the first element to a marketing strategy. The marketing mix variables of product, place (distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace." [Target market. Wikipedia]
"An onion diagram is a kind of chart that shows the dependencies among parts of an organization or process. The chart displays items in concentric circles, where the items in each ring depend on the items in the smaller rings. ...
The Onion Diagram is able to show layers of a complete system in a few circles. Each of the circles is able to represent a component that is dependent upon the component on the inside of it shown by the circle inside of it. The main concept of the diagram is shown by the center circle of the diagram. This chart is used due to the fact that it has a clear visual representation that is easy to read, and it has a strong visual impact." [Onion diagram. Wikipedia]
This onion diagram (target diagram) example "Target market" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Target and Circular Diagrams solution from the Marketing area of ConceptDraw Solution Park.
www.conceptdraw.com/solution-park/marketing-target-and-circular-diagrams Read more
Onion diagram
Onion diagram, stacked Venn diagram, onion diagram,
This example of marketing infogram was created on the base of web page "Market research" from the website of West Australian State Government agency Small Business Development Corporation (SBDC).
"Market research is a key part of developing your marketing strategy. It’s about collecting information to give you an insight into your customers’ mind so that you understand what they want, how they gather information and where they come from. You can also do market research to get a better idea of market trends and what is happening in your industry sector.
The information you gather and analyse builds the foundation of good business decisions whether it’s deciding what product or service you’ll offer, where your business should be located, how to distribute your products or how you communicate with consumers." [smallbusiness.wa.gov.au/market-research]
The example "Marketing Infographics - Market Research" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Marketing Infographics solition from the area "Business Infographics" in ConceptDraw Solution Park. Read more
Marketing infogram
Marketing infogram, website marketing, training, seminars, title text block, ribbon title block, ribbon arrow callout, numbered list, marketing strategy , marketing infographics background, lead generation program, content production, circle bullet, callout with divider, bulleted list, arrowed callout, ribbon callout, arrow right callout, arrow left callout,
This market value pyramid diagram has 5 levels:
1) Essence (Who we are),
2) Competitive positioning (Where we play),
3) Customer benefits (Value proposition),
4) Product / Service features (Value delivery),
5) Internal capabilitiea (Value requirements).
Use this triangular scheme to develop your marketing strategy.
"Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and may differ in some circumstances." [Market value. Wikipedia]
The triangle chart example "Market value" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Pyramid Diagrams solution from the Marketing area of ConceptDraw Solution Park. Read more
Pyramid diagram
Pyramid diagram, pyramid, triangle,
"The six markets model.
Christopher, Payne and Ballantyne (1991) from Cranfield University goes further. They identify six markets which they claim are central to relationship marketing. They are: internal markets, supplier markets, recruitment markets, referral markets, influence markets, and customer markets.
Referral marketing is developing and implementing a marketing plan to stimulate referrals. Although it may take months before you see the effect of referral marketing, this is often the most effective part of an overall marketing plan and the best use of resources.
Marketing to suppliers is aimed at ensuring a long-term conflict-free relationship in which all parties understand each other's needs and exceed each other's expectations. Such a strategy can reduce costs and improve quality.
Influence markets involve a wide range of sub-markets including: government regulators, standards bodies, lobbyists, stockholders, bankers, venture capitalists, financial analysts, stockbrokers, consumer associations, environmental associations, and labor associations. These activities are typically carried out by the public relations department, but relationship marketers feel that marketing to all six markets is the responsibility of everyone in the organization. Each market may require its own explicit strategies and a separate marketing mix for each." [Relationship marketing. Wikipedia]
The block diagram example "Six markets model" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Block Diagrams solution from the area "What is a Diagram" of ConceptDraw Solution Park. Read more
Block diagram
Block diagram, block diagram,
This circle-spoke diagram sample illustrates the target market concept.
"A target market is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. The marketing mix variables of product, place (distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace." [Target market. Wikipedia]
The hub-and-spoke diagram example "Target market" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Circle-Spoke Diagrams solution from the area "What is a Diagram" of ConceptDraw Solution Park. Read more
Circle-spoke diagram
Circle-spoke diagram, circle-spoke diagram,