"Procter & Gamble has admitted its targeting went “too narrow” and that mass reach remains important as it looks to stay front of consumers’ minds."
P&G's strategy described in the article is 'refreshingly old school'. It recognises that ads are not about getting consumers to buy the specific product the minute it's put in front of them – but to influence their decision making the next time they buy.
To build brand or build hype. Read more about that here.
So before going super niche on targeting ads, it's good to know what parts of the demographic respond to the campaign. In other words, start with casting a wide net. See who bites. Then target more specifically.