Your customers and Target Market

Your customers and Target Market

1. Who are they?

   • Target Market
     • Gives focus
       • Marketing
       • Sales activities
       • Advertising messages
       • Color of employees' uniforms
       • Distribution channels

2. Are customers really out there?

   • Yo need to figure out
     • If potential customers exists.
       • It can figure
         • If you've competition
           • with same or similar product

3. A target is something you aim at

   • There are some facts that you need to consider
     • Features and benefits of your product or service
     • Competition
     • -Most motivated buyers
     • Greatest ability to purchase
     • Ease of selling to your prospects
     • Ease of reaching your prospects
     • Market trends

4. End user Vs Actual consumer

   • Individual who will actually use the product or service
     • And not necessary the person or entity that purchases it

5. Customers

   • Primary
     • Are othe nes you spend the msot time and money targeting.
   • Secondary
     • Customers you wouldn't necessarily expect to be interested in your product

6. Know your customers

   • Location
   • Age
   • Industry
   • Purchasing patterns
   • Buying sensitives
   • Psychographics

7. Defining your target market

   • Definable
     • It should have specific characteristics
       • What they have in common
   • Meaningiful
     • Characteristics must meaningfully relate
       • to the decision purchase
   • Sizable
     • It must be large enough
       • To profitable sustain your business
   • Reachable
     • Effective ways to market to your potential customers

8. Choosing your niche

   • Define your nich objective
   • Make sure your targeted niche is large enough to sustain you
   • A niche market can still be a big markekt
   • Serving a niche doesn't mean you can't serve a larger market as well