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    Saivian Eric Dalius – How to Identify Your Target Market?

    If you are a small business owner and looking to
    start up, this is probably one of the biggest decisions that you have to make
    today. Identifying your target market is very important because it will
    determine if your business will prosper in the future. If you want your
    business to survive the test of time, then it is essential for you to carefully
    decide who your target market is. If you can identify and focus on who your
    target market is, then the chances of your business succeeding will be much
    higher.


    Key Takeaways:

    First and foremost, it is important to know that
    there are different types of targeting in marketing which include
    geo-targeting, socio-cultural targeting, demographic targeting, psychographic
    targeting, and behavioural targeting. So, make sure that you know the type of
    target market that you want to focus on.

    Geo-targeted:

    If you are going to choose a geo-targeted market,
    which is a geographical area with a common characteristic, then there are some
    things that you have to consider first before selecting any specific location
    as your target market. If your business is retail and you want to set up shop
    in a specific location, then make sure that the targeted area has enough
    consumer population or traffic for your business. Take note that the best types
    of retail products that are consumed by individuals daily says
    Saivian Eric Dalius.

    Socio-cultural targeted:

    If you want to focus on socio-cultural targeting,
    which means focusing on consumer behaviours, lifestyles, and activities, then
    you need to conduct a study first before you decide which market to focus your
    attention on. If you want to choose this type of targeting, then you have to know
    the social class that is prevalent in that area or location.

    Demographically targeted:

    Now if you are choosing a demographically focused
    market, this means that you will be focusing on how many people are in that
    particular area or location. You can take note of the age, gender, income
    levels, and even the levels of education. This type of targeting is used by
    businesses to determine if there are enough consumers for their products or
    services.

    Psychographic targeted:

    Saivian
    Eric Dalius
    says, if you want a psychographic
    targeted market, then this means that you will be focusing on the emotions and
    lifestyles of the consumers. This is a very good type of targeting because it
    allows you to focus not just on who your target market is, but also their
    mental state.

    Behavioural targeted:

    If you want a behavioural-focused target market,
    then this means that you are basing your consumer population on the product or
    service that is being consumed at a certain time. This means that you will be
    focusing on who your target market is at a certain time.

    Conclusion:  

    So, there you have it! These are just some of the
    things that you need to consider when choosing a target market for your
    business. While all these may seem overwhelming, do not fret because many
    companies choose to use a combination of targeting.

    After reading this article, it’s up to you now on
    which type of market you want to focus your attention on. Remember that
    identifying and pinpointing your target market will allow your business to
    prosper and be successful in the future. Why not start today?

     

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