Introduction to Marketing: Establishing Your Business’ Target Market

Are you new to business marketing? Great because you are in the right place today. Today I am going over some very basic information when it comes to marketing. First of all the big question:

What is Marketing?

You might think of marketing as businesses selling a bunch of stuff and a ton of advertising. Of course, we are surrounded by it daily from our televisions, magazines, sales people, online pitches, billboards, radio, and more. It’s just everywhere, right?! But Marketing is so much more than that. You can pitch an advertisement and try to sell all you want and get zero profitable results.

So What is the Secret to Effective Marketing?

The secret is in building customer relationships and understanding what your target market wants, needs, and demands. Then producing a product or service that satisfies your target market by providing something of value that will either solve a problem or enrich their lives.

Mistakes to Avoid

You might have a great service or product but you might be pitching to the wrong clients. I mean c’mon ladies, that’s like pitching sanitary pads to men. They aren’t going to buy into it, because it absolutely does not fulfill their want, needs nor demand. Sometimes businesses have something of value to offer but they have no idea about their target market.

What is a Target Market?

In a nutshell, a target market includes the actual people that are interested in what you have to offer. These are the people that are going to buy your services and products.

How do you choose your target market?

This really takes time and dedication to understand what customers or clients you are going to serve and you need to think about what value you can provide for them. But first step is creating a customer profile.

What is a customer profile?

Identifying who your valued customers are is key. So here are a few things to consider when creating your customer profile:
• Age
• Gender
• Income Level
• Location
• Marital Status
• Education Level
• Occupation/Industry
• Ethnicity
• Hobbies/Interest/Purchasing Habits

If you’re looking at this list and thinking wait a minute, I have no idea how to find out some of this information. This is where customer relationships can get a kickstart.

  1. Start asking by talking to people in your social circle that fit your target market. Aside from that, the web, social media is such a powerful tool to utilize.
  2. Create a survey, share a poll, and ask the right questions to get to know the answers to these questions.
  3. Research your target market thoroughly. Trust me, knowing your customers is essential. Find out also what they love, what they hate, what they really need, want, and demand related to what you have to offer.

Once you’ve gotten this far, you’ve only hit the tip of the iceberg. If you have gotten this far, congrats on your accomplishment.

Share with me in the comments: What value do you add to your customers/clients? How do you (or how do you plan to) build customer relationships with your customers?

I would love to hear from you all!

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