Clearly defining and measuring those most likely to benefit from your products or services enables you to be much more efficient and effective with regards to marketing messaging and budget.
Focus where you can achieve results!
Once you have a firm grasp on your particular target market/s, you have the ability to best understand how price, product, place and promotion can or should be strategized to drive sales of your products and services.
Learn who, where and how many you are selling to
Create messaging customization for market segmants
Understand price points as they pertain to the given the market
Determine the best place to be selling your products
Gain and document a clear definition of exactly what needs your products and/or services satisfy.
Define Target Customers
Identify all of the people or businesses who have these product needs, and how they perceive value in the space.
Measuring all of the separate groups of people or businesses to understand how many there are and where they exist.
More about Target Market Research
A good market analysis takes many variables into account. The analysis should help define who your target customers are, where they are, how they breakdown demographically, as well as give you insight into their attitudes, beliefs, emotions, behaviors, and values. This is what gives you the best chance to speak to them in a way they are comfortable with, about something they care about, from a perspective that can help improve their life or business in a tangible way.
Analyzing an audience helps you identify the most important characteristics about them, so you can use that information to promote your organization and products to them directly. A target market analysis should be designed to help your company connect with organizations or individuals who are most likely to use your product. This leads to increased product or service visibility and ultimately sales.