Target costing is business demand in today's business world. Do you agree? and why?

The concept of target costing is very interesting.
I'll try to make understand with brief comments.
Target costing is not about giving the price to your audience.
Instead it taking the price from your target audience and working to cover all costs under this price.
China is a good example in today's business world.
Its targeting different regions with different prices (also quality), depending upon the affordability and perception of the market.

I am not agree that Target costing is business demand in today's business world.
Because today markets and economic are rabidly change and every product even it has especial feature but the compotator can make similar to it or the customer can use another substitute so I think market or value base is better for todays business and so the business demand it in today's business world.

I agree for some extend; due to the critical economic situations in some countries, consumer has a limited flexibility in terms of prices increase, especially in the3rd. world countries where the income increase is far low vs. prices rapid increases so the consumer will try to manage his budget to secure his needs according to a limited budget while he faces high prices, in such situation he will give up the quality and brand loyalty and will look for cheaper prices, here the target costing works. At "A" class consumers where the brand loyalty and quality is a must for such consumer, the consumer will be flexible to respond to the price increase to acquire the same product, here target costing "might not work or not needed"