Target Market Example

What is Target Market

Line of people standing in a queueTarget marketing allows you to focus your marketing dollars and brand awareness on a specific market that is more likely to purchase your product or service.

Whatever your product is, there is a specific market for it. The more fine- tuned you are in defining your target market, the better chance you have at making a sale.

There is a reason why the ketchup is next to the mustard on the grocery store shelf, or why the peanut butter is next to the jelly. People, who want to buy one, also want the buy the other. (I want you to give this marketing strategy a great deal of thought. Which other business Online and/or offline, could you connect or partner with, to promote what product or service you have to offer?)

A window tinting business could build a partnership relationship with a tire shop, an auto mechanic, and an audio system shop, to name a few.

Study your market, so you know specifically what your customers needs are in order to drive business. The more you know about your customers, such as their age, gender, income, and the demographic information, the better you can communicate with them, to meet their needs.

Know your target market

Can you define your customers clearly? If not, here are some questions to help you spotlight your target market:

  • Who would use your product? (age, gender income, and demographic.)
  • What would you tell other people about your product? (List the benefits, how can it improve peoples lives?)
  • What do you like most about the product’s features and its benefits? (Saves time, makes life easier, has a guarantee, etc?)

How to Define Your Target Market: Look at Your Current Customer Base (Provided you’ve kept track of specific data details on your invoices?)

Who are your current customers, and why do they buy from you? Is it your quality products, service, customers care, or the warranty you provide. Or the convenience of your location?

Look for the common denominator. Which ones bring in the most business? It’s very likely that other people would like them also, and benefit from your product and/or service.

 

By: Fay B. Castro

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