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

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, and am covering the last four 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?

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 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.

To learn how to determine the best appeals for your target market, you can get a free special report by completing the form below.

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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