Understanding Your Target Market is Critical for Success
Identifying your target market gives you the information needed to focus on the buyers that are interested in what you have to offer. Not only does it save you money but it saves you a big amount of time as well. Implementing a marketing strategy and planning is critical in finding your target market. Demographic, lifestyle, and economic researching are some key examples in helping you.
Knowing your target market’s demographic information is very useful. Examples of this are age, gender, income, education, family size, marital, and their occupation. Knowing this may help you in knowing why customers buy your products or services. This can also help you know your customers more closely. Demographic information is tangible information about individuals or groups.
Lifestyle information focuses more on intangible characteristics of people that make them different or unique. It helps us understand the meaning that the demographic research has to the people or person. There are different types of lifestyle information. Psychographics, social, values, and life stage are to name a few. Psychographics from my understanding looks at the emotional behaviors on purchasing factors. Some are risk takers and some avoid. Social factors can include hobbies, things the buyer likes to do such as going to the movies. Values can include such things as politics, religions and cultures. Last but not least, life stage information focuses more on the roles like mom, teens, or the elderly. Gathering this information will help you choose a good target to better your success for your company or product.
Dividing your market into sections, also called segments can and will help you understand more of which segments you can make more money with. Also where you should spend more time and research. Choosing the right segments can help your sales, time, and keep you under an affordable budget.
How you go about advertising your business will determine how well you do. Whether it may be TV commercials, radio, discounts, magazines ads, online forums, Facebook, and twitter, you will need to apply your advertising to the right groups that you have focused on with some of the ideas above. Target Marketing can very often be your key to success.
With this being said. Here is my my team that I promote as well. http://www.soylicious.com/fullofhope