Identifying and selecting your target market!
When creating a website or business you have to remember no matter how hard you try you can’t satisfy all the needs of your potential customers. So what you have to do here is focus and concentrate on a specific target market, a specific segment of the whole available market that will offer the most profit from your potential consumers. In short a target market is a group of individuals in which a company and or a website targets its services or products too. The majority of the time this group will have similar interests or characteristics such as age, gender, education, occupation, and or live in the same geographical area.
In theory the similarity of the target market should mean that all the people in this group should respond accordingly to a similar marketing campaign. Remember this is in theory and in reality marketing is extremely competitive and many competitors battle it out for the same set of customers. So when all is said and done the competitor with the best marketing strategy and has the most impact on the target market will win the battle.
When creating your marketing strategy ensure that you’re offering the better price, place, and or promotion then your competitors. If you don’t you’re liable to lose market share and overall sales depending on your product and or service you’re offering to the end consumer.
I hope this helps you understand your target market a little better and also gives you a better understanding of where to focus your energy. Ensure you have selected the proper target market and you’re off to a good start.
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