Azura Global Consulting

Understanding Your Target Market

What is a Target Market?

A group of customers that a business hasdecided to aim its marketing and

merchandising efforts

Target Market Categories

Geographic

• City, State, Community, Address• Climate, Region

Demographic

• Gender, Age, Income• Occupation, Education, Household size

Psychographic

• Similar or Different Attitudes, Values & Lifestyles

Behavioral• Product Loyalty & Brand Loyalty

Why have a target market?To understand your customer and why you should sell them

your products/services!If you don’t…

You’ll know nothing about your customer,and you’ll never sell them anything!

Things to remember…

• The wish and pray method does not work.• God expects you to do your homework before

he blesses your business.• Marketing is very expensive and can consume

most of your profits if not done correctly.

A Well Defined Target Market…

Is the 1st element to a successful marketing strategy

Includes the 4P’s: product, placement, price & promotion

Is the marketing strategy that determines the success of your product/service in the marketplace

What is SWOT Analysis?

• A tool that identifies the strengths, weaknesses, opportunities and threats of a business or organization

• A better way of thinking of this is… what your business can and cannot do when not focused on the target market.

SWOT Analysis

Strengths Weaknesses

Opportunities Threats

Strategies For Reaching Target Market

Mass Marketing

(Targeting the WHOLE market w/one strategy)

Differential Marketing(Targeting various

segments of WHOLE market w/different

campaigns)

Concentrated Marketing

(Targeting a specific and defined segment)

Niche(Micro)

Marketing(Targeting all marketing

efforts on a small but specific and well define

segment of the population)

Mass Marketing

Differential Marketing

ConcentratedMarketing

NicheMarketing

FIN