Now that you have begun defining your target market the next step is to choose your Demographics and Psychographics. By doing this, you are further defining specific markets, benefiting your business. Firstly to define your demographics; you must be specific when doing so. Look at particular customers who need and want your product or service and who are most likely to purchase it.
The demographics should include the following:- Age
- Gender
- Location
- Occupation
- Income level
- Education level
- Ethnic background
- Marital or family status
Once this has been defined, consider the Psychographics of Your Target Market. Psychographics is the study and classification of people according to their attitudes, aspirations, and other psychological criteria. It is the personal characteristics of a person:
- Values
- Interests/hobbies
- Personality
- Behaviour
- Lifestyles
- Attitudes
Establish how your product or service can fit into your target's lifestyle. In what way and when will they use your product? What is most appealing to them about the product? What media do they turn to for information? Do they search the internet, read the paper or attend particular events? Gather this information on your target market and stay tuned for more tips on defining your target market!
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