Quick Answer: How Do I Identify My Target Market?

How do you identify your customers?

Here are some tips to help you find your business’s ideal customers:Define your product or service from the customer’s point of view.

Define the ideal customer for what you sell.

Determine the specific benefits your customer is seeking in buying your product.

Determine the location of your exact customer.More items…•.

What is a target market example?

Gender and Age Small businesses often target customers by gender or age. For example, a women’s clothing retailer directs its promotional efforts at women. … Similarly, some small companies market to specific age groups. Companies selling life insurance for people close to retirement age may target people 50 and over.

What is meant by target market?

A target market refers to a group of customers to whom a company wants to sell its products and services, and to whom it directs its marketing efforts. Consumers who make up a target market share similar characteristics including geography, buying power, demographics, and incomes.

What are the 5 types of customers?

Here are five sales-oriented types of customers you will encounter.Potential customer – The Potential Paul. … New customer – New Neil. … Impulsive Customer – Impulsive Iggy. … Discount customer – Discount Dan. … Loyal customer – Loyal Larry.

Who are primary customers?

Every business has three customers: the shareholders, the employees and the buyers of the services and/or products. Only one can be your primary customer. … Most business owners and leaders think they know who their primary customer is, and most presume it is the one who buys their wares.

How do you identify marketing customers?

Identify the geographic region where your market is located. Identify specific boundaries within which you will do business. Demographic. Potential customers are identified by criteria such as age, race, religion, gender, income level, family size, occupation, education level and marital status.

How is Apple’s target market identify?

Target Market Apple is primarily product-driven in its approach, in that it develops the product first, and then seeking out the market for it. This worked thanks, in large part, to the high quality and unique products that Apple has churned out. It did not take long for Apple to become established as a global market.

Why do people buy iPhones?

iPhone buyers are attracted to the Apple brand as a prestigious status symbol or fashion accessory, for the same reasons people like Rolex watches or Gucci bags. The iPhone is a smart phone for dumb users. The iPhone is supposed to be easy to use, so novices are attracted to it for that reason.

What is another word for target market?

What is another word for target market?publicaudienceconsumersdevoteesfanbasefollowershipmarketpatronagesupportersbuffs39 more rows

How do you write a target market statement?

Develop a Target Market Positioning StatementDefine your target audience (who do you want to serve?). … Figure out your frame of reference (what is your point of view?). … Identify points of difference (how will you uniquely do this?). … Offer support (I am credible because . . .). … State your promise or core benefit (who, where, uniquely how, because).

How do you target new customers?

10 Steps To Target And Connect With Potential Customers…Survey Customers. … Research Your Competitors And Find Out Who Their Customers Are. … Target Ads. … Smart Social Media. … Respond To Every Email, Tweet, Facebook Comment, And Phone Call; Adjust Yourself As Necessary. … Affiliate Marketing. … Establish Trust In Your Community: Publish User Reviews, Get Likes, Syndicate Articles.More items…•

What are the 3 target market strategies?

Three main activities of target marketing are segmenting, targeting and positioning. These three steps make up what is commonly referred to as the S-T-P marketing process.

What is the target market of iPhone?

The target market for the iPhone is mostly youths and working professionals in the age of 18-35 who are brand and style conscious. These consumers love new gadgets and technology and some of these could be loyal to the Apple brand as well.

What are the types of targeting?

5 Different Types of TargetingBehavioral Targeting (aka audience targeting) Behavioral targeting is the practice of segmenting customers based on web browsing behavior, including things like pages visited, searches performed, links clicked, and products purchased. … Contextual Targeting. … Search Retargeting. … Site Retargeting. … Predictive Targeting.

What is a target market strategy?

A marketing strategy is selecting and describing one or more target markets that a company’s product or service will identify for business opportunities. A target market is a defined group most likely to buy a company’s products or services.

What are the four targeting strategies?

There are four generic target marketing strategies.Undifferentiated marketing:Differentiated marketing or multi-segment targeting:Focus or concentrated targeting:Customized marketing: