Business People Club

How to research on my target market?

0 like 0 dislike
317 views
by C-Lion
How to determine what my target market is?

Your comment

Your name to display :
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.

1 Comment

0 like 0 dislike
commented by GamerAlpaca
When you want to market your products or services, the first thing you need to do is to determine your target market. Once target market is determined, you can then use the four P in marketing to decide how to approach your target market. The Four P referred here is product, price, place (distribution) and promotion.

So, why is target market important? The main reason is that company exists for a reason. It needs to differentiate itself from competition in order to survive. For example if you have decided to sell bottled water to the general mass in the urban area, then good luck with that. In the US, Pepsi and Coke has widespread distribution of bottled water consumption through its Aquafina and Dasani brand. If you still insists on selling bottled water, then you need to narrow your target market.

For example, instead of selling to the general mass, your target market for the bottled water can be physically active individuals who avoids thirst quenchers such as Gatorade when they exercise. Once you identify this target market, you would then use the four P to differentiate yourself from regular bottled water. For example, in terms of place (distribution), you can avoid places such as fast food restaurants or lounges. Statistically, people who are exercising, seldom visit these places. You would then concentrate your distribution on places such as the school's sporting facility.

While choosing your target market seems trivial, it will cost you a lot of marketing dollars if done incorrectly. Let's assume that you do not decide what your target market is and you are now using the four P in marketing to market your product. You would then distribute your bottled water to places such as convenience stores, gas stations and the shopping mall. Will you capture audiences who are physically more active than the population? Yes, you will. But, the percentage of that audience is small compared to if you focus your distribution on that target market. As a result, you spend large amount of money to capture a small portion of the audience. Worse still, big companies such as Pepsi and Coke are now aware that you are invading their turf. The next thing they'll do is to bombard the mass media with advertisement and price cut to make your products invisible. If they do it long enough, your survival may be in question. Therefore, choosing your target market is really important before marketing your products.  

In the online world, you need to choose your target market too. Once you choose your target market, the four P should reflect this decision. For example, if your target market is individuals who are looking for ways to invest their money, you should not advertise in general audience such as CNN. Your marketing budget will be more effective if you spend your money in financial website such as Yahoo! Finance or The Motley Fool.

Same thing with your distribution channel. If you distribute your content to the general article directory, you will get loads of visitors who may not be interested in your products or services. Furthermore, as discussed earlier, it might attract your bigger competitors thinking that you are trying to take away their lunch. If your bigger competitors are not inept, they will then react accordingly and launch offensive campaigns that will render your marketing campaign useless.  

Fortunately, nowadays, there are plenty of niche article directories allowing marketers to publish articles of certain field. Thus, smaller publishers can gain more visibility as niche directories generally have less people submitting their contents. Furthermore, larger competitors are reluctant to publish their contents there. The reason is that they have a larger cost overhead. Focusing on small target market will not do them any good. It is their loss. But you, my friend, should not miss this opportunity. It is one of the most efficient way of using your marketing dollars.

Related posts

0 like 0 dislike
1 Comment 284 views
0 like 0 dislike
1 Comment 280 views
How to market my blog for free?

I have a awesome blog but i don't have budget to promote. what are the ways i can market my blog for free?

by List
0 like 0 dislike
0 comments 272 views
How To Effectively Market With Video On The Web

Online video publishing has indeed taken the Internet by storm in recent years, making the use of video for marketing, promotion, news and PR online a true key strategic component and a key business differentiator for internet marketers who want to communicate effectively about their product profile ... slamming some video content up on your web pages, it more toward effective video communication through video publishing & sharing on the web.

by HairyFoal
0 like 0 dislike
1 Comment 276 views
How to market on facebook?

How to promote my business on facebook?

by Caribooboo
0 like 0 dislike
0 comments 301 views
5 Great Ways to Reach Your Target Market

There are many ways to reach out and find the people you are trying to attract for your business. Here are just a handful of ways to get you started: 1) Attend organization meetings Where do people in your target market hang out? Research this, and then plan to attend a meeting or two to mix and ... be too. And don't forget to use keywords. These are what the search engines will use to find the content in your blog and draw others to it.

image
by GardenParrot
0 like 0 dislike
1 Comment 339 views
How conduct a market analysis on your business?

How to conduct a market analysis on your business?

by Butcherry
0 like 0 dislike
0 comments 59 views
Recognizing Target Market

Achieving good sales is the ultimate target of any firm. Many criteria, such as competitive pricing, near perfect product, reaching out to correct audience and motivational advertising, are responsible for this and should be dealt with in marketing. First things first, all the efforts will go ... the whole approach will interest them, the amount of traffic received in return will be simply overwhelming and the whole effort will be worth it.

by GroundHurricane
0 like 0 dislike
1 Comment 255 views
0 like 0 dislike
0 comments 109 views
How to Research and Find Your Niche Online

Deciding on what product or service you will promote in a niche market should be based on a simple principle. There should be a demand for your product or service. You want to offer something that people actually need, something that will make their lives better, make them feel better physically ... service to make it more attractive, better or just different than what others are selling it for. Research is the key to successful niche marketing.

by HistoryGuy
0 like 0 dislike
0 comments 55 views
Doing Research on Marketing

Research on marketing is essential to understand the pattern of marketing. This is possible by searching existing knowledge related to business marketing. It is a form of business research, business-to-business marketing research and business marketing research. Marketing research is done in many forms ... is similar to exit polling in politics. The market is studied from different angles, at different time, and under different circumstances.

by GamerAlpaca
0 like 0 dislike
1 Comment 264 views
0 like 0 dislike
1 Comment 264 views
0 like 0 dislike
0 comments 270 views
Conducting A Market Analysis On Your Business

The term "market analysis" is often confusing to entrepreneurs, especially for people who focus on a specific niche or market segment. In fact, many small business owners don't understand the process or complain that conducting a market analysis is too complicated or too expensive and wonder why or if ... or service, it will help you figure out the best ways to reach your customers, price your products or service and ultimately make more sales!

by TrainedGuy
0 like 0 dislike
1 Comment 424 views
how to promote my website for free?

I am building new website and how can i promote it? any tips?

by VoyageHooper
0 like 0 dislike
1 Comment 338 views
How to use PPC In my Affiliate Marketing Business ?

How to use PPC In my Affiliate Marketing Business ?

by Falconjurer
0 like 0 dislike
1 Comment 423 views
How to get more visitors to my site?

I just created small blog and i want to know how can i get more visitors to my site?

by GraveGrass
0 like 0 dislike
1 Comment 253 views
0 like 0 dislike
1 Comment 242 views
How to advertise my business for free?

How to advertise my business for free?

by Titank
0 like 0 dislike
1 Comment 180 views
How to boost my business with party games?

What are the fun party games for direct sales that will boost your business?

by GamerAlpaca
0 like 0 dislike
1 Comment 339 views
0 like 0 dislike
0 comments 202 views
How to guide on marketing on the internet

If you are new to the net and interested in making money ethically then this article will educate you in the various methods of making money online. It uses a blog as an example of various types money making paths. Blogs cost nothing and are provided free to build a community on the internet ... , but remember I'm new to writing articles so don't be too harsh) The author may be contacted at anhharrisandsons@primusonline.com.au Happy netting.

by AmazingKitty
0 like 0 dislike
0 comments 191 views
How to advertise on facebook?

How to advertise on facebook to get maximum results?

by Camella
0 like 0 dislike
0 comments 119 views
How do you Market your Business?

According to a recently conducted study, 76.1% of respondents can recollect the advertiser's name through the promotional items that the latter have received from the advertiser. Most of the respondents also said that they are keeping the promotional items because they are useful. Promotional ... more businesses are seeking aid from these versatile promotional products. They are useful, productive and indispensable to the success of a business.

by FlamboyantChomper
0 like 0 dislike
1 Comment 283 views
0 like 0 dislike
0 comments 216 views
How to change font size on my wordpress website?

How to change font size on my wordpress website? What would be the code and Where do i need to add it?

by BunBunny
0 like 0 dislike
1 Comment 300 views
How to embed youtube video on my website?

I want to embed youtube video on my website. How can i do that?

by MagicalCyborg
0 like 0 dislike
0 comments 2,392 views
Going to Bookshops to Identify a Hot Market

The day may come when people do all of their researching and reading online but it isn't here yet. Fiction, of course, will always be in print it would be hard to curl up with a good novel in front of the fireplace on a cold winter day with a computer. Research, however, may ... what the hot market subjects are. Armed with this information, you can go about creating a niche marketing website that will have a better chance of becoming successful.

image
by GraveGrass
0 like 0 dislike
0 comments 258 views
5 Tips to Help You Identify WHO To Market To

If you have your own small business, it's important to decide exactly who you will be marketing your products or services to. After all, you probably don't have the time or the money to market to everyone. And even if you did, it is not recommended. You'll want to select what is called a " ... is a fluid process. The important thing is to start. You can always refine your audience and your plan later as you learn more. (C) 2005 Debbie LaChusa

image
by Dragonig
0 like 0 dislike
0 comments 243 views
The Best and Worst Days to Market Online

If you are in a sales position where you are soliciting a product or service, there is some advice that might be helpful when speaking to other businesses. There are times during a year that are good times and other times that might not be so good. As I always state in any advice I give, every ... , along with holidays. You should always try to sell 365 days a year in some fashion, but put more emphasis towards the prime, or best selling times.

by Scorpeon
0 like 0 dislike
1 Comment 382 views
0 like 0 dislike
0 comments 142 views
Identify The Ideal Target Audience With These 5 Tips

Narrowing your focus to one primary group of people is often difficult for small business owners. They want to help everyone - and very often their product or service CAN help a variety of people. It also goes against human nature to narrow your focus in order to grow a business. Common sense seems ... process. The important thing is to start. You can always refine your audience and your plan later as you learn more. (C) 2005 Debbie LaChusa

by BunBunny
0 like 0 dislike
0 comments 193 views
Target Marketing - Your Home Business

When it comes to making money on the Internet, your first thought should be to identify exactly who will be most interested in what your home business has to offer. This is the difference between 'blanket' marketing and 'target' marketing and for a home business with a small budget, it can ... think would benefit from change you will more easily narrow down your target marketing audience, find them online, and market your home business to them.

by GrizzlyFlash
0 like 0 dislike
1 Comment 417 views
0 like 0 dislike
0 comments 298 views
0 like 0 dislike
0 comments 164 views
Internet Marketing Research With Google, Ebay And Amazon

Internet searches are extremely effective in finding not only how popular your topic is, but how to set up your autoresponder for maximum results. A vast majority of internet users find what they're looking for by searching, whether they use a general web search engine like Google or a site- ... items by subject. You can browse through the available products related to your topic in this way without going back to your search results page.

by SilkPredator
0 like 0 dislike
0 comments 221 views
5 Ways to Make Money on the Internet with Top Quality E-books

With so many new online business opportunities available, it can be difficult to sift through the masses. Maybe you're low on start-up funds. Perhaps you have limited time to work on your business at the start due to your current employment away from home. Maybe you'd like an Internet business that ... 7 and by automating your business to make it work for you. Start searching online today for e-book opportunities so you can reach your goals soon!

by GardenParrot
0 like 0 dislike
0 comments 407 views
The Easy Way To Kill Your On-Line Business!

A lot of websites floating around today have missed their chances of success at on-line business. When we take a look at the search results for any topic we need, many of the results that crop up do not even remotely seem to be professional. All of these are aimed to catch your eye with ... showing Under construction Too many mouse over effects Designing a professional website is a time consuming process - take your time but do it right.

by PerfumedNecromancer
0 like 0 dislike
0 comments 101 views
Importance of Market Research for Small Business

Basically, market research is defined as the process of collecting customer data to determine whether the newly launched or currently existing products and services will satisfy the needs of consumers. Every business type needs to do market research in order to be successful in their current marketplace. But ... customers and so on. If you are a small business owner, take the advantage of market research surveys and expand your business growth.

by JamesMaron
0 like 0 dislike
0 comments 77 views
Facebook Marketing: Effective Ways to Market on Facebook

Marketing on social networking websites, such as Facebook, is one of the hottest trends among businesses and internet marketers today. With over 62 million subscribers from all over the world, Facebook is considered to be a gold mine among internet marketers and for businesses that wants to gather more ... these tips, you will be able to have more potential customers visiting your Facebook profile page and know about what you have to offer.

by Richard S.
0 like 0 dislike
0 comments 304 views
3 Winning Sales Strategies You Can't Market Without!

1. Attention-Getting Ads Get Results Think about it...how many advertisements do you hear every day...how about every hour? Let's face it, we're bombarded with magazine ads, newspaper ads, TV ads, radio ads, and the Internet is plastered with ads on every site. Not many of the astronomical number of ... our sales are likely to see great results... and hey, they'll feel good while they're writing out the check! What more could you ask for?

image
by Slayerk
0 like 0 dislike
1 Comment 271 views
What are the Online Advertising Channels For My Business?

What are the Online Advertising Channels For My Business?

by HuggingDuck
0 like 0 dislike
0 comments 79 views
How to Use Overture to Identify a Hot Demand

The Overture Search Tool is a wonder to behold. There are so many tools and so much help available at the site that when you visit you will be asking why nobody has told you about this before now. The costs are small and the services are large and extremely helpful to Internet entrepreneurs. It ... accomplish that task. Overture was originally named GoTo.com. It changed its name to Overture in October, 2001 and was purchased by Yahoo in 2003.

by MorningFortune
0 like 0 dislike
0 comments 1,326 views
Free Advertising Tips - How to Write Ads that Sell

If you are interested in free advertising you are not alone. The fact of the matter is that more and more people are diving into free advertising because they can save a lot of money. After all, what is the point in taking out an ad in a newspaper if you can do this for free in ... free advertising. Without the proper words you are not going to get very far. Luckily, with a bit of practice you will be creating free advertisements that convert!

image
by Knighttime
0 like 0 dislike
0 comments 461 views
How To Advertise And Build Brand-Name For A Product Online

According to the research of authors Al Ries & Laura Ries, there are 22 immutable laws of branding to build a product into world-class brand. However, one of the laws that's always right to any products is The Law of Advertising . Today, we know that there are a lot of ways to advertise. ... today, Audio4fun is the first name of voice changer software in the world. So, why don't you try to speech-up your business by online advertising?

image
by HuggingDuck
0 like 0 dislike
0 comments 292 views
How To Fully Automate Your Website So You Don’t Waste Time Working

So you don't have a way of managing all of the customer responses coming through your inbox? I can relate, please let me share a personal story. When I first started my online business, I didn't know what an autoresponder was, and I was intimidated by setting one ... Offering excellent customer service is a significant business building tool, especially for online businesses when a customer assesses you and your site faster than you realize.

by Knighthawk
Connect with us:
...