Massachusetts Target Market Worksheet
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How to Define Your Target MarketLook at your current customer base.Check out your competition.Analyze your product/service.Choose specific demographics to target.Consider the psychographics of your target.Evaluate your decision.Additional resources.
How to identify your target marketAnalyze your offerings. Ask yourself what problems your products and services solve, and, in turn, to whom they appeal.Conduct market research.Create customer profiles and market segments.Assess the competition.30-Apr-2019
A target customer is an individual that's most likely to buy your product. And it's a subset of the broader target market. For example, if your target market is female athletes between the ages of 13 to 25, a target customer could be female athletes in the specific age range of 13 to 16.
Demographic segmentation: age, gender, education, marital status, race, religion, etc. Psychographic segmentation: values, beliefs, interests, personality, lifestyle, etc. Behavioral segmentation: purchasing or spending habits, user status, brand interactions, etc.
For example, a children's toy may have boys ages 911 as the target market and the boys' parents as the target audience. It may also be defined as the consumer segment most likely to be influenced by an advertising campaign. The target market is also distinct from the buyer persona.
Here are some tactics to help you identify your target market:Analyze your offerings. Ask yourself what problems your products and services solve, and, in turn, to whom they appeal.Conduct market research.Create customer profiles and market segments.Assess the competition.
There are many ways to segment markets to find the right target audience. Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.
For example, a children's toy may have boys ages 911 as the target market and the boys' parents as the target audience. It may also be defined as the consumer segment most likely to be influenced by an advertising campaign. The target market is also distinct from the buyer persona.
Write a target market statement Your statement should include: Demographic information about your target market, such as gender and age. Geographic location of your target market. Key interests of your target market.
Your target market is the specific group of people at which your product or service is aimed. In other words, they're the primary audience of your business, branding and marketing strategy.
