Target Market

In chapter four, the beginning of the reading begins by discussing the importance of a target market when selling a product or service. The books goes on to describe a target market as 'a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the need of that group, resulting in mutually satisfying exchanges' (pg. 45).

Therefore it would seem as though every single product or service is said to have a specific group of people, the target market, in which they are aiming to sell towards.

What I am wondering though is that it would seem as not all products or services have just one target market, some may have many. Therefore if a company need to target more than one market, it is in turn going to have more advertisements, as well as a much more divisive selling view.

Some companies on the other hand have only one identified target market to focus their product or services towards, however some companies try to expand their markets in hope of reaching new customers and overall expanding their product or services outputs as well. However this does not always seem like it would be the best decision for all customers to make.

If there is one target market then it will be easier for a company to focus it's efforts in one direction, on the other hand, if a company has multiple markets then it has a higher chance of reaching a larger audience.

Do you think it is more beneficial for a company to have only one specific target market, or rather have a range of different target markets?