How Does Honda Target its Audience?

 

The 2017 Honda Accord

Honda's Target Audience 

Did you know Honda has been in the market for over 70 years? It is one of the largest companies who delivers the products worldwide and has a huge demand in the market.

The customers of Honda are the middle-income group who are looking for vehicles that they can afford. Honda target the group of consumers that want reliable and somewhat affordable cars. They also do not want cars that aren't going to cost much to maintain. 

What is a Target Market?

If you have studied marketing you have probably heard of the term - 'Target Market'. Target Market is the group of consumers toward which an overall marketing program is directed. 

"The general idea behind defining your target audience is that you need to know who you’re trying to reach with your messages if you want them to hit their mark and to have a serious impact on the way that your business is performing", says Gary Henderson on his blog about target audience.

Honda's Marketing Plan:

Honda has positioned themselves close to competition and offers a product of high quality and strong performance and competitive rates. The marketing planner identifies the specific needs of groups of people, selects one or more of these segments as a target, configures a positioning strategy for the selected market segment, and develops a marketing program. The use of 'Marketing and Promotions process model'. 

There are some companies in the market which also delivers good cars like the brand - Subaru. They build cars with good engines and tires, but rather not focus on the design and shape.

The marketing managers are responsible to assure that the products will be distributed at the right place, promoted effectively and the last is to elaborate the prices as customers are searching for the competitive prices.

Market Segmentation Variables: 

A target audience is a group of consumers characterized by behaviour and specific demographics, such as female extreme athletes between the ages of 18 and 25, says Kayla in the blog of finding target audience setting Vans as an example. 

The segments are:        

• Geographic

• Demographic 

• Socioeconomic 

• Psychologic

• Behaviour 

To conclude I would say Honda can be set as an example to all the new or upcoming brands which are willing to get into the market. There are brands who are in the top of the market and then there are brands who have been delivering its customers for over half a century with quality products. Honda can surely be a brand to look up to!

References: 

1. https://www.coursehero.com/file/p3q932t6/Target-Market-Customers-of-Honda-are-the-middle-income-group-people-who-are/#:~:text=Target%20Market%20Customers%20of%20Honda%20are%20the%20middle%2Dincome%20group,to%20cost%20much%20to%20maintain.
2. https://www.slideshare.net/limeka/honda-group-assignment