Sunday, October 19, 2014

Target Marketing

One of your first steps in starting a business is identifying your market. Once you've identified your market, you can begin targeting the people who will pay for all of your business growth: your customers.

Your target market can be broken down into four components: who, where, why and how.

      WHO: Who needs your product or service? Include basic demographic details such as age, gender, family size, educational level and occupation.

      WHERE: Where are your customers? These are the places your customers can be found. Learn the details, like the size of the area, its population density, and its climate.

      WHY: Why do your customers make the choices they make? This is personality and lifestlye information that will help you figure out your customers buying patterns.

      HOW: How do your customers behave? All customers are buying products to fulfill a need, but how do they regard that need? How do they regard your product? How much information do they have on this need or how your product fulfills it, and what are their information sources?

No comments:

Post a Comment