North Atlanta Business Post Login | Register
Updated May 26 @ 10:26AM
 

Selecting target markets

Posted

Have you defined your ideal target markets? Do you understand the buying criteria of the potential customers in your target markets? Have you segmented your markets to take advantage of using unique marketing messages to each segment? A target market is a group of customers that your business has decided is the best place to focus your time and efforts, and the first element to an overall marketing strategy.

Target markets are defined in many different ways. Most small businesses start with a geographical location and then add additional criteria, such as demographics, to hone in on the best people to market to. Demographics could include gender, age, income, occupation, education, household size or many other criteria to slice up the marketplace.

Using specific criteria allows you to avoid using “mass marketing” as your only approach. Mass marketing, which often doesn’t include demographics, is the least effective way to reach your target audience. Sending out brochures or doing random robo calls is not nearly as good as targeting your potential customers. Positioning your products and services with your target market is also very important. This could be differentiating based upon price or other factors that highlight the uniqueness of what you provide. The marketplace is always changing, so it is a best practice to continue to evaluate whether you are focused on the right segment at the right time. Determining your target markets is the first step in developing a marketing plan, and then it’s all in the execution.

No comments on this story | Add your comment
Please log in or register to add your comment
+ New Business Spotlight
Business name: Hollywood FeedOwner: Shawn McGhee, president, and George Oakes, store managerAbout: Hollywood Feed offers a wide selection of natural and holistic pet food and products, and supports …
Advertising
Latest Local News
CUMMING, Ga. — Tire Rack’s Street Survival Driver Training is taking the safety of teen drivers in Cumming to the streets. Through a partnership with the city, the Cumming City Council …
+ New Business Spotlight
Business name: Eminence Family EyecareOwner: Dr. Stella OnyekweluAbout: Built on the foundation of patient convenience and satisfaction, Eminence Family Eyecare serves all family eye care needs under …