Target Market

Marketings Importance

Once you have identified a concept or product, you will want to begin identifying your target market.

A target market is the group of people most likely to purchase your product, good or service.

A successful marketing strategy for identifying the target market, will even find out where they shop,

what they read and what Internet sites they are most likely to visit. Otherwords, you want to get some demographic info. about them. This is crucial after after you have done a thorough researching of your target market.

Research

The first step to developing a solid marketing strategy is research.  Research helps and enables you to develop new ideas and screen those concepts before investing company funds in a product.

You wouldn’t  open a restaurant in a neighborhood, before finding out whether or not there are other restaurants with similar cuisines nearby.

You would want to know whether the locals would be interested or not  in the food you will be serving. Your research does not have to involve hiring a pricey marketing research firm. Instead, find a similar business in another city or neighborhood, and  compare your idea to what they are already doing. Ask a wide range of people in your target area if they would be interested in your concept and what your offering.

And would they patronize your business if they liked what you offered. If you get enough favorable responses, Go for it.

Marketings Importance

Advertising

Every business should have a budget set aside for advertising. Aim your advertising efforts towards the places where your target market lives, works and plays. This may mean a variety of things. Hanging fliers at a preschool,  if you are targeting young families. Running radio ads during rush hour, if you are trying to attract 20- to 60-year-old professionals.

Advertising is any method that gets a customer’s attention and makes him aware of your business.

Offers and discounts are a great way to get a customer in the door the first time.

And once they enjoy your service, more than likely you will have them continually.

Well for now, I’ll stop here, but will post more marketing tips and info. futuristically in the coming days.

blessings,

George

p.s. I pray someone will be blessed by this post.

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