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Target Market Worksheet

Target Market Worksheet

Name: Target Market Worksheet
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.81 (269 reviews)

Category:

Small Business - Worksheets and Surveys

State:

Multi-State

Control #:

US-04024BG

Format:

Instant download

Description

A target market is a specific group of consumers to whom a business wishes to attract and sell its line of goods or services. It may be defined in terms of age, gender, sexual orientation, economic class, ethnicity, religion, or location. This process of socio-economic grouping allows businesses to create profiles of the typical customer who is likely to purchase products from the company, which in turn provides the basis for the creation of marketing and sales initiatives that allow the business to build a clientele within that customer demographic.

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FAQ

Look 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.

Following are 5 criteria that indicate whether you have selected a viable target market: size, expected growth, competitive position, cost to reach, and compatibility.

Demographic information about your target market, such as gender and age. Geographic location of your target market. Key interests of your target market.

Step One: Identify the Problems You Solve. Step Two: Check Out Your Current Customer Base. Step Three: Research the Competition. Step Four: Decide on Specific Demographics to Target. Step Five: Take Account of Your Target Market's Psychographics. Step Six: Evaluate.

These include gender, age, income levels, race, education, religion, marital status, and geographic location. Consumers that fall into these groups tend to value the same products and services, which is why narrowing down these segments is one of the most important factors to determine target markets.

Create Reader Personas. Conduct User Surveys Regularly. Use Google Analytics. Find Your Target Audience On Facebook With Facebook Insights. Find Your Target Audience On Twitter By Connecting To Your Twitter Followers Dashboard. Run An Annual Audience Survey. Monitor Your Social Activity.

Geographic, demographic, psychographic and behavioral are the four levels of segmentation that can help define your business's primary target audience.

This paper has defined four factors for targeting an attractive market, i.e. size of market, growth, stability, and competition that affects the business or firm to target an attractive market is analyzed using rational analysis. It aims to identify the positive effects of such factors in determining the target market.

Target Market Worksheet

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What are the four factors used to describe a target market?

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