Archive for the “Target Markets” Category

This category covers specific target markets and information to help you create your own target market profiles.

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Jul 25 2008

False Assumptions About Your Target Market

Posted by: Linda in Target Markets, tags: ,

Are you making false assumptions about your target market members?

We often assume that other people think as we do and from the same level of experience and information. But this false assumption can result in lost sales and damaged relationships.


A Story

Let me demonstrate some potential pitfalls with a story about my daughter when she was four, I was trying to teach her to dress herself. She was doing well except for her panties. She kept putting them on backwards.

Many times, I had laid out her panties in front of her and told her that the wider side was the back and the narrow side was the front. She could recognize the front from the back of her panties, yet she continued to put them on backwards.

I couldn’t understand why until one day when I was repeating this explanation, she said, “but Mommy, what is the front and back of me?”

Once I explained the front and back of her body to go with the front and back of the panties, she never put her panties on backwards again.

I assumed that she had information that she didn’t have, and because of that false assumption, all my attempts to help her were in vain.


Do You Make Similar Mistakes?

Now this may seem an extreme example because she was a child and I an adult, but I see business owners making similar mistakes due to false assumptions about their target market member’s knowledge and experiences.

The more you know about your target market, the more likely you are to avoid such mistakes and the lost sales and damaged relationships that they cause.


How Much Do You Know About Your Target Market?

You can start building knowledge about your target market with a free target market report. Your report will reveal the most shared characteristics and best appeals for your target market instantly. Click on the link in this sentence to get your target market analysis.

You can then flesh out your report with my e-book, Know ‘em Sell ‘em: How To Discover The Best Appeals For Your Target Market. And you can save $10 by purchasing it from the one-time offer page after you register for AutoMarketAnalysis.com.


Would You Like A Free Customized Target Market Report?

You can start learning about your target market quickly and easily by getting your free target market report and Know ‘em Sell ‘em.

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Posted 7-25-08: False Assumptions About Your Target Market

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Jul 24 2008

In Today’s Competitive Environment, Quality Products Demand Target Market Knowledge

Posted by: Linda in Product, Target Markets, tags: , , ,

In today’s competitive environment, quality products are designed to meet the needs of a target market and then are marketed to that market. If you, as a small business owner, who wants to assure that your product is perceived as a quality one, you need to consider the three major elements that impact the perception of a product’s quality. They are:

How well the product meets the target market’s needs,
How well marketing promotes the product’s quality, and
How good the customer service is that supports the product.


In Today’s Competitive Environment, Quality Products Depend on The Needs Of The Target Market

Every target market has a different definition of quality. The one common denominator is that all target market members want products that meet their needs by providing the benefits they want.

The needs and benefits will vary by target market. What your target market considers quality, another target market will consider mediocre because it only partially provides the benefits that they seek.

You have to assure that your products are designed with features that meet the needs of your target market. Then you have to monitor the manufacturing process and check final products to determine that those features work as designed.


In Today’s Competitive Environment, Quality Products’ Perception Demands Good Marketing

Regardless of how well your product’s benefits and features match your target market’s definition of quality, if it’s not marketed well to the target market, the product will not get a quality reputation.

In today’s competitive environment, quality products may be made in a factory, but the perception of quality is established through good marketing. So you must assure that your marketing is relevant to, and appropriate for your target market.


In Today’s Competitive Environment, Quality Products Must Be Supported With Good Customer Service

No matter how well your product is made, how well it provides target market benefits, or how well you market it, if your customer service fails, your product won’t be considered a quality one.

Today, more than ever, people are fed up with poor customer service. In most people’s minds, customer service for a product is directly tied to the quality of the product. So in order to improve the perception of your product’s quality, you must support your product with quality customer service.

Everybody expects certain elements of customer service. But some target market members consider additional elements important that another target market may find irrelevant.


In Today’s Competitive Environment, Quality Products Require Knowing Target Market Characteristics

Each of the three major elements contributing to the perception of quality, relate to knowing the target market. The more you know characteristics that distinguish your target market from another, the better you’ll be able to produce, market and support your quality produce. The better you comprehend your product’s target market characteristics, the more successfully you can build a quality perception into each element.

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You can get a free target market report and discover the characteristics and best appeals for your target market.

Posted 7-24-08: In Today’s Competitive Environment, Quality Products
Demand Target Market Knowledge

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Jul 16 2008

Elements of Intentional Marketing 2: Target Market

Posted by: Linda in Target Markets, tags: ,

The primary elements of intentional marketing were previewed in Elements of Intentional Marketing 1: Goals and Objectives.

Today’s post covers the second element - target markets.


Intentional Marketing Requires Determining A Target Market

Intentional marketing requires determining a target market and designing marketing efforts to reach and serve target market members.

One of the biggest mistakes that small business owners make in their marketing is trying to market to everyone. They think that is the way to reach the most people and make the most sales. But it just isn’t so. Because marketing to everyone amounts to marketing to no one.

Intentional marketing considers the target market from the design of a product, through all marketing activities, distribution, and customer service. Every decision throughout the process considers:

  • target market members,
  • what they want and need,
  • how to best reach them, and
  • how to best serve them.


    Intentional Marketing Builds Relations In other words, intentional marketing is also relationship marketing. Maintaining a positive relationship with target market members should be the primary objective of all intentional marketing activities.


    Intentional Marketing Is Controversial

    Unfortunately, the target market element of intentional marketing is also what makes intentional marketing controversial. Some marketers target children, a particular race, or some disadvantaged market, to persuade them to make or influence decisions that are not in their best interest.

    Of course such “intentional marketing” is controversial because its intention is to benefit the business with no regard for the welfare of target market members. It’s manipulative. The business may make short-term gains with such “intentional marketing.” But in the long run, it hurts more than it helps.

    The more positive approach to intentional marketing, relationship marketing, helps both the business and customers. It’s mutually beneficial. The business makes money and the customers get their needs and wants met with good products and services.

    The first step for this second element of intentional marketing, is to identify your target market. The second step is to learn everything that you can about your target market members in order to build mutually beneficial relationships.

    If you’ve identified your target market and know its members’ demographics, you can get a Free Target Market Analysis by completing the form below:

    Read more about the Elements of Intentional Marketing.

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    Posted 7-16-08: Elements of Intentional Marketing 2:
    Target Market

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    May 08 2008

    Market Segmentation And Your Business Profitability Goal

    Posted by: Linda in Market Segmentation, Marketing, Other, Target Markets, tags: ,

    Your business profitability goal is vital to your business’ success. If you commit to your goal in writing, your are far more likely to reach it than if you don’t.

    You are in business to make a profit, aren’t you?. So I’m sure that you have a business profitability goal. Have you committed it to writing? Do you know how using market segmentation to identify and learn about your customers and target market enhances your ability to reach your goal?

    Illustration of business profitability goal

    Many business experts contend that profit is the reward for giving customers what they want for a price they are willing to pay. Of course, to make a profit, that price has to reap you more income than it costs you to produce, market and distribute your product. This involves many business practices. Not the least of which is marketing.


    Your Business Profitability Goal And Market Research

    When you think of marketing, you may just think of tactics that you can use – like news releases, publications, special events, and advertising. You probably don’t think much about marketing research. But marketing research can help to reach your business profitability goal.

    One of the most important types of marketing research is market segmentation. It provides you with information to identify your best target market. You have selected a target market haven’t you?

    To reach your business profitability goal, you need to direct your marketing efforts to a specific target market. Then you need to learn everything possible about that target market. Then use that information to guide your marketing strategies and tactics. Market segmentation will enable you to discover the best marketing appeals for your target market.


    Market Segmentation Enhances Income To Reach Your Business Profitability Goal

    It does so by helping you to:

    1. reach your target market by revealing what media they use,

    2. create marketing messages that appeal to your target market members’ needs and desires,

    3. position your business, products and services to attract your target market,

    4. convert that interest into first-time sales,

    5. build a positive relations your first-time customers to persuade buy from you again,

    6. win your customers trust by building good customer relationships.

    If you think about it, the above six abilities are what determine your income. Income determines half of your ability to reach your business profitability goal. The other half deals with limiting your expenses.


    Market Segmentation Saves Expenses To Reach Your Business Profitability Goal

    Market segmentation also influences expenses involved in making sales. It enables you to identify a target market and to improve how you market to its members. This saves you loads of money over trying to market to everybody, or wasting money on ineffective marketing tactics and messages.

    Of course, you will still have expenses like product development, distribution, personnel, etc. But market segmentation can also save you money with these expenses.

    For instance, by knowing your target market and what they really want and need, you avoid wasting money developing products that don’t have good profit potential. You also avoid costly features that aren’t important to your target market.


    Market Segmentation Helps Improve Distribution To Reach Your Business Profitability Goal

    Market segmentation also influences what distribution methods that you use to deliver your products. By knowing how your customers prefer to get their products, you can focus on that distribution method, fine tune it, and make it a distinguishing characteristic. Plus, you can often save money by using one distribution method consistently.


    Your Business Profitability Goal: Conclusion

    In conclusion, market segmentation can help you to reach your business profitability goal by helping you to get new and repeat customers. This improves your income.

    Market segmentation also helps by providing information to guide your spending decisions.

    By improving both income and expenses, market segmentation helps you to reach your business profitability goal.

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    Posted 5-08-08: Market Segmentation And
    Your Business Profitability Goal

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    May 02 2008

    Target Market: Eight Questions To Ask About Yours, 5-8

    Posted by: Linda in Target Markets, tags:

    Target market information isn’t as difficult to acquire as many small business owners believe.

    By answering just eight questions, you can acquire a wealth of information about your target market.

    I covered the first four questions in yesterdays post. You can access it below:


    Target Market: Eight Questions To Ask About Yours, 1-4

    I’m covering the last four questions to ask about your target market in today’s post. These last four questions are:

    5. How often and how much will target market members buy your product or service?

    6. When and under what circumstances will target market members buy?

    7. What are target market members’ preferences and needs?

    8. Can you build a relationship with them so they will be loyal to your product or service?

    I cover how to answer these question below:


    5. How Often And How Much Will Target Market Members Buy Your Product Or Service?

    The answer to this question depends as much on your product or service as your target market.

    For instance, if you’re selling large appliances, most people are not going to replace a large appliance more frequently than every ten years. So you can only expect to sell target market members a new refrigerator every ten to fifteen years.

    However, if you carry different types of large appliances, they may buy from you again in two years when they need a new dishwasher and again in three years when they need a new washer and dryer.

    On the other hand, if you own a video store, your target market members may buy from you every week. If you own a clothing store, they may buy from you monthly or at least several times a year.


    6. When And Under What Circumstances Will Your Target Market Members Buy?

    The answer to the sixth question is much more dependent on your target market than your product or service.

    Consider the clothing store example. Middle class professional women are inclined to buy work clothing several times a year at large department stores known for quality products. Young college women buy more often and are more likely to buy at boutiques that carry fashionable lines of clothing. Working class women buy more seasonally at discount stores.


    7. What Are Target Market Members’ Preferences And Needs?

    This question is more about why your target market members buy, and the benefits and appeals that most influence them to buy.

    For instance, some people buy to impress others while others only buy functional products. They have different needs that they buy to fulfill. I include lots of preferences and needs that influence purchase decisions in the lifestyles section of my e-book, Know ‘em Sell ‘em: How To Discover The Best Appeals For Your Target Market. You can read more about it by clicking the link in this sentence.


    8. Can You Build A Relationship With Them So They Will Be Loyal To Your Product Or Service?

    Some people aren’t loyal to any product, store or service provider. They buy strictly on price and always comparison shop. Some people are brand loyal and will always buy their favorite brands even if it means going to a special store to do so. Others will buy from a particular store because they like and trust the owner. And most will not buy from a store where they have ever been offended or upset.

    So how loyal your target market members will be depends partially on which one of these groups they comprise. I cover several characteristics to help you predict how loyal a target market will be in my e-book, Know ‘em Sell ‘em: How To Discover The Best Appeals For Your Target Market.

    For target market members who are inclined to be loyal, you have to work to build their trust and treat them well so they will like you.

    After you’ve answered all these questions about your target market, you’ll have discovered many important characteristics to aid your marketing with target market members.

    You can also read about 20 target market profiles already completed for your use by clicking on the link in this sentence.

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    Get Your Free Instant Market Analysis! Just complete the form below:

    Posted May 2, 2008: Eight Questions To Ask About Your Target Market, 5-8

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