In marketing and advertising, a target audience, is a specific group of people within the target market at which the marketing message is aimed at. For example, if a company sells new diet programs for men with heart disease problems (target market) the communication will be aimed at the spouse (target audience) who takes care of the nutrition plan of her husband.
A target audience can be people of a certain age group, gender, marital status, etc. (ex: teenagers, females, single people, etc.) A certain combination, like men from twenty to thirty is often a target audience. Other groups, although not the main focus, may also be interested. Discovering the appropriate target market(s) and determining the target audience is one of the most important activities in marketing management. The biggest mistake entrepreneurs are making is trying to reach everybody and ending up appealing to no-one.
Target Audiences are set to focus on different groups: Adults, teens, children, mid-teens, and preschoolers. It is essential to become familiar with your target market; their habits, behaviors, likes, and dislikes. Markets differ in size, assortment, geographic scale, locality, types of communities, and in the different types of merchandise sold and because of the many variations included in a market it is essential, since you cannot accommodate everyone’s preferences, to know exactly who you are marketing to and the specific fondness of that market. To better become acquainted with the ins and outs of your designated target market legend a market analysis must be completed. A market analysis is a documented examination of a market that is used to enlighten a business’s preparation activities surrounding decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and to improve daily operations and many other aspects.
No one can afford to target everyone. Small businesses can effectively compete with large companies by targeting a niche market. For example, an interior design company could choose to market to homeowners between the ages of 35-65 with incomes of $150,000+ in the Baton Rouge, Louisiana, market. To define the market even further, the company could choose to target only those interested in kitchen and bath remodeling and traditional styles. This market could be broken down into two niches: parents on the go and retiring baby boomers.
With a clearly defined target audience, it is much easier to determine where and how to market your company. To define your target market, check out your competition. Who are your competitors targeting? Who are their current customers? Don’t go after the same market. You may find a niche market that they are overlooking.
To define your target market, analyze your products and services. Write out a list of each feature of your product or service. Next to each feature, list the benefits they provide (and the benefits of those benefits). For example, a graphic designer offers high quality design services. The resulting benefit is a professional company image. A professional image will attract more customers because they see the company as professional and trustworthy. So ultimately, the benefit of high quality design is to gain more customers and make more money.
Choose specific demographics to target. Figure out not only who has a need for your product or service, but also who is most likely to buy it. Think about the following factors:
• Income level
• Education level
• Marital or family status
• Ethnic background
Also don’t break your target down too far! Remember, you can have more than one niche market. Consider if your marketing message should be different for each niche market. If you can reach both niches effectively with the same message, then maybe you have broken down your market too far. Also, if you find that there are only 50 people that fit all of your criteria, maybe you should reevaluate your target. The trick is to find that perfect balance
Defining your target market is the hard part. Once you know who you are targeting, it is much easier to figure out which media you can use to reach them and what marketing messages will resonate with them. Instead of sending direct mail to everyone in your zip code, you can send only to those who fit your criteria. Save money and get a better return on investment by defining your target audience.
I like this chapter I think that this is definitely a weakness of mine. I tend to target everyone and then fail. This chapter had great tips that were explained very well and in lay-man’s terms. So far this has been the best chapter I have read in this whole class.
LYDIA on Choosing Brand Elements digital marketing ag… on Ch. 12 jash on Chapter 10 jash on Chapter 10 confessionsofanowl on Chapter 10