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In this contribution we describe our method of Reverse Time Migration with Gaussian beams (Gaussian beam RTM) and introduce an improved imaging condition suitable for computation of velocity contrasts at reflectors in the framework of the true-amplitude concept. By combining ideas and techniques used in tomography and Gaussian beam RTM, an effective approach to iterative velocity model building is developed. We demonstrate our recent results in these directions along with the results of target-oriented migration for the BP-model to show the potential and practicality of Gaussian beam RTM in target-oriented seismic imaging.