If a company sells its products only from an online website, which is accessible to customers all over the world, does it still need to worry about having a specific target market. explain your answer

Importance of Having a Specific Target Market For over a long period, successful companies, that started their operationsearlier on without the internet influence, have always attributed focus of particular target market as one of the essential factors of success. For example, Coca-Cola and Pepsi, the leading world soft drinks providers focused on particular target markets and the same continues until after the introduction of the internet platform where business transactions occur efficiently (Gregoriou 2010). Much debate rages as to whether companies still need to focus on a particular target market especially if the enterprise makes online sales on a website platform accessible to all customers around the globe. The paper therefore focuses on whether a company that makes online sales through a website that is accessible to clients across the world still needs to focus on maintaining a particular target market.
Like it happens in life that an individual will never appeal all human beings, the same is witnessed with businesses. Despite having a website accessible to customers around the world, an organization needs to create value for defining who it requires using the goods or services it provides. Defining expected buyers remains important due the following reasons. First, through identification of a target market, a company becomes precise in its marketing as well as advertising efforts. Having an ideal client helps in strategizing specific tactics of reaching them. Specific strategies remain important during the decision-making process as decision making becomes easier and more focused saving in time as well as resources (Mooradian and Matzlerz 2012). Secondly, customers will find the business quickly. Although the website serves a global purpose where everyone can learn about the existence of an individual company, majority of individuals may fail to learn about the enterprise’s life. Customers need to have greater assurance from products and service providers that their needs and desires, as well as challenges, will be considered once they arise. The aspect of developing a virtual or physical location where customers will meet the providers of goods and services creates more confidence in customers prompting more use of products and services offered. Lastly, although referrals are made through the internet, having a particular target market establishes close association with existing clients making it easier for them to make referrals.
Consequently, irrespective of the above benefits of having a target market, reaching customers throughout the world indicates less regarding product improvement and marketing of products. Target markets are essential in decision-making processes regarding what a company wants to offer to customers (Mooradian and Matzlerz 2012). With an already identified target market, businesses develop their products with an aim of meeting the needs of an already known group of individuals. Regarding the marketing aspect, with a well-defined target market, marketing campaigns are only directed towards the panel of persons likely to purchase the products on offer. Failure to control the marketing campaigns lead to wastage of resource as a company tries to market its products even to the less interested people.
In conclusion, although the website provides a platform for making sales for businesses, it cannot replace the need for maintaining a particular market. Internet users are varied and to depend on them will only fail a company. Without a particular target market, sales will mostly decline for any organization as the organization fails to observe persuasive mechanisms that may increase customer base (Gregoriou 2010).
References
Gregoriou, G. (2010). The credit derivatives handbook: Global perspectives, innovations, and market drivers. New York: McGraw-Hill.
Mooradian, T., & Matzler, K. (2012). Strategic marketing. Boston, MA: Pearson Prentice Hall.