Identifying your target market. . .
Target Market?
If you are a new business, it is important to asses who your target market is. It is true, your product or service COULD be useful to everyone, but you must focus on who you specifically you are expecting to get a return from when utilizing your resources.
If you have been in business already, you can use this information to analyze your present target market. This may be a shift from what you imagined when you started, however these customers are the ones who were drawn to your mission, vision or goals.
You’ll achieve greater success at less expense by selling directly to your target market; the people who want, need, and are able to pay for what you’ve got. Don't assume everyone wants what you're selling. Even if that were true, most subgroups will want what you offer for different reasons. For example, if you sell weight loss products, some will want to lose weight to look good, while others will be more concerned with their health. Knowing the reasons why people buy is crucial to your being able to market to them.
People buy solutions, which means you'll need to know what problem they need solved.
