Minnesota Target Market Worksheet
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FAQ
Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types. Here are several more methods you may want to look into.
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.
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.
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.
You can segment your target market using demographics such as age, location, gender, marital or family status, occupation, income level, education level, etc. Next, identify the psychographics of the people who stand to benefit the most from your product or service.
On this pageStep 1: Identify Existing Ideal Customers and List Their Characteristics.Step 2: Identify the Problems You Solve and the People Who Benefit the Most From Your Solution.Step 3: Evaluate Your Data and Create Your Target Market Draft.Step 4: Compare Your Target Market Draft Against Real People.More items...
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.
Geographic, demographic, psychographic and behavioral are the four levels of segmentation that can help define your business's primary target audience.
It should include some basic demographics like age, gender, education and income level, geographic location, occupation and marital status. You'll also want to consider what's likely to motivate your buyer. If you sell cars, are your products practical or flashy?
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.
