There is a popular film now in theaters featuring a huge cast of superheroes. Various figures and groups of heroes appearing were featured in earlier films. Each of these films was successful enough that it is clear the producers thought that combining them in ever-larger combinations would be an even greater hit. Well, maybe. And this is an object lesson for any business.
My argument is that too many targets can weaken the entire marketing campaign.
Why? Let's look at our "Mega-film". Twenty two characters can only have so much screen time and some, from what I understand, don't even have any lines! If I am a fan of "Steel Guy" I am in risk of being annoyed that "Furry Creature" is eating into my hero's face time. And that's assuming the film isn't a hopeless mishmash. (Which some critics say it is.)
Similarly, if I attempt to message too many different target audiences I risk weakening my message and creating the image of not focusing much on whatever, say, Target Group A wants when I try to throw a line out to B at the same time. This creates the possibility I'll look like too much a generalist and easy to disregard in favor of a specialist competitor.
Bottom Line: Be careful not to pile on with the superheroes and end up creating a badly diluted campaign. Focus a given message on one carefully identified target audience and give that target the largest possible face time with your product and service.