Identifying your Target Market

What is 'target marketing'? Creating a customized marketing mix to reach a specific target market effectively.

To help identify your target market start, by asking yourself these two equally important questions.

Question 1: Who are your Customers?
Question 2: Who buys your Products?

You would be amazed to find out how many small business owners do not have a concise answer to these questions. A huge mistake many business owners make is trying to be "everything to everyone." You have to decide who you are targeting, what are the characteristics of your customers? What are their spending habits? What commonality brings your customers together?

Most times your prospective customers don't know about your company. It is your job, now that you know who your best customers are, to 'target' them - don't shy away from competition, welcome it. Many don't realize that competition means your idea is working. Now what are you going to do make your business stand out and be different?

By zeroing in on your target customer you will have a better chance of success. Remember you can't be everything to everyone but when you do find your target audience, this is your chance to be an expert in your field!

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