How To Identify Your Targeted Market Segment

To start the creative process of determining your unique message, ask yourself these simple questions: * What are you offering, and what makes it so unusual? For example, if you want to sell children toys, what makes your product different from what consumers can buy from other gigantic retail chains? Are the toys hand-crafted, rare, or vintage? * To whom do you wish to sell it? Put differently, who exactly are you aiming as your ideal buyer? Parents, naturally, but what kind of parent? Do you seek to target rich, upscale parents, who prefer educational games that will assist their children learn in school, for example?

You may also consider about marketing to uncles, aunts, and grandparents, who often glad to spend more on their grandchildren, nephews, and nieces than the parents do. * Why should consumers buy the product from you? Are you open around the clock so that parents can drop by your toy store anytime? Do you offer complimentary delivery of large and heavy items so that walk-in buyers don’t have to lug their stuffs home? Are you and your staff especially knowledgeable and reachable about suggesting appropriate toys for an age group?

These questions prove valuable whether you are selling toys or offering notebook repair service. When you have the right answers to these important questions, you should quickly do two things: concentrate on your primary market segment and do an exhaustive research. Many marketing managers fall into the trap of thinking that their products are “for everybody”- that is, everyone would need or be interested in the products. After all, if a couple has kids, they need kid’s clothes and toys, right? Car owners need mechanics for maintenance and repair. And if a busy employee doesn’t want to prepare his own tax return, he needs a tax whiz to prepare it for him. So, why do the companies that sell these products and services have to identify primary market segments?

The correct answer is that, even if your company appeals to a broad market with diverse consumers, you have to identify who your ideal buyer is. If you are selling high-priced toys, for example, your primary market segment is rich parents (although, in theory, any parent can save enough cash to buy a particular gift). If you are in the auto repair shop business, you want to concentrate not only on what you can do, but also on what market segment needs your product and service most (not to mention what can be the most lucrative segment).

For example, if you are the only business in town that understands how to repair expensive foreign sports cars, and you happen to live in a neighborhood or city that houses plenty of these cars, your primary market segment should certainly be foreign car owners. That is not to say that you will turn away the driver of the old Volkswagen Beetle if he needs to replace the transmission.

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