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HOW TO IDENTIFY YOUR TARGET MARKET – Part 2

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Target market refers to people who are most likely to need your product or service. Once identified then you should find ways to access the market. This should start at least 6 months before a publicity driven event or launch. This way you can build up the features and benefits of your product or service in your publicity campaign.

Let’s look at ways to identify your market

IDENTIFY YOUR TARGET MARKET BY THE FOLLOWING

AGE: Are you appealing to children, teenagers, young adults, middle aged or the elderly?

GEOGRAPHY: Which region do they live in? Your town? Entire State? Local? National or International?

GENDER: Does the product appeal to women or men or both?

OCCUPATION: Is your product or service for Entreprenuers, Business to Business, Builders?

CAREER LEVEL: Are you targeting Middle Management? CEO’s?

HOBBIES:  What does your target market do in their spare time?

RELATIONSHIP STATUS: Would it interest single, married, divorced, new parents?

VALUES: Is it a luxury brand? Would it appeal to those who want the finer things in

life?

WHAT IS EXACTLY IS YOUR MARKET? 

Are they consumers or business? If you are selling office supplies for example then you are selling to businesses? If you are selling slimming products in a retail tub then you are selling to consumers. In some cases you may target both.

IDENITY TARGET MARKET

In order to identify your target market you need to know the type of groups of people that you relieve the pain of. Are they single? Are they married? Where do they live? What’s their job status? Do you know their economic status and education level?

Further questions you make ask are listed below and I will use my business as an example to answers the questions

Who do I already have connections and credibility with?

It is easier to sell to people you know and who trust you. My target markets are small to medium size businesses. I have built good relationships with a few of them online from similar groups and at networking events. I also have a database that I have built overtime.

Who is most in need of my product and service?

Those who are most in need of my service are entrepreneurs who have tried to penetrate into markets themselves but have found it difficult because they are losing money not gaining, so they require the services of expert who has access and contacts.

Who will be most receptive?

In my case, small to medium size business who really frustrated and who want to take the market share away from the big players. Also new international medium size businesses who want into launch products into the tough but lucrative Nigeria market will be receptive to my services.

Who can afford the product or services?

Serious entrepreneurs who see the value and benefits will make the investment on my services.

Start by creating an avatar or personal profile of 4 ideal clients.

Identify as much as can about them. Once the avatar is created, all publicity and communication should be written as if speaking to that person.

 

About Majestically Rare – Publicity Services

We help develop marketing and publicity strategies that enables small and medium size businesses capture market share from the ‘big players’ by creating brand recognition, enabling businesses to repackage and reposition themselves to attract more clients’ thereby increasing profit.

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