No matter what type of business you have, you need a target market. There are folks who want and need your products, and the goal of your marketing efforts is to connect with them. Without a clearly defined target market, you’re taking shots in the dark and just hoping that you’ll find people who will buy. You have no real idea if you’re aiming too high, too low, or in the wrong direction entirely.
What Is a Target Market?
A target market is a group of people that have related characteristics and need, and to whom you direct your marketing and product efforts. It’s a specific audience. Target markets are defined by demographics such as age, gender, location, economic group, social status, family situation, country and language.A few examples of businesses with target markets would be:
- A shopping network that targets working moms over 30
- A resort that targets retirees
- A store whose target market is young families
- A clothing store that targets teens who see themselves as ‘alternative’
- A winter sporting goods supply store that targets people in cold, northern areas
- A blog that targets well-to-do expatriates
You’ll notice that in the examples above, not all the information is demographic. For example, take teens that see themselves as ‘alternative.’ Other factors in target markets include psychographic data, like how your audience sees themselves or see the world around them. This is just as important as demographic information.
Why Laser-Target Your Market?
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