Target Marketing
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Target Marketing
Target marketing is the audience that we decide to market to. It is relatively the most import thing to do when putting together a business plan or marketing strategies. Once you have decided what your target market is you can effectively choose how you are going to market to them. When looking at the target market we look at the demographics , and psycho-graphics. When we talk about demographics we are talking about age groups, where they live and where they shop. All the statistical data of our consumers is what makes up the demographics. The psychographics is more the study of how our consumers behave and shop, we want to know what makes them buy a product, and what makes them buy one product more then another. Once we study our consumers then we can put together a solid plan of how to reach our customers and how to influence them to purchase our product. Its a really neat concept when you think about it.
The best example of targeting a specific psycho-graphics group is when we decided to sell to small businesses, we had to get inside the mind of a small business owner to determine how we were going to reach them and sell our products. We found out that small business owners are not online, and we had to reach them in a different more direct approach. Now that was just for this area, and may be different for different markets. Had we not done our research we would of wasted money and valuable time advertising online.