Business Tips:  Vol. 1, No. 2

Do You Know Your Target?

Target Marketing

Target Marketing is the presentation of our products to a specific group of potential purchasers who have been qualified and are thus the “target” audience. I’m sure that you like me have been the target market of many advertising campaigns, whether on TV, direct mail or elsewhere. Marketers target us by many means and categories including age, gender, income and life style.

Professional Marketers know that we can be identified in part by our preferences, and if targeted, the cost per sale decreases. It’s good business to target market. To do so though we need to know the composition of our target market.

The Target Audience

Your target audience is made up of individuals who can be grouped as a class that is known to buy, or be interested in purchasing the offering that you bring to the market. For example a home renovator might do well to advertise in an older wealthy neighborhood, with lots of opportunity for renovations. It would be a good target audience for a renovator. Other identifiable target markets might include a neighborhood of offices that are heavy users of computer and network equipment for a computer services (repair and sales) business, or, accounting services to a network of new business people – accounting services for both personal and business needs.

Target Marketing

Once identified as a target audience, the marketing channels (methods of marketing) used to reach this audience come into play. It is important to weigh the costs of marketing against the potential gains in every case. Often test marketing of a marketing channel is used to determine the most effective means of marketing. Target Marketing should provide for a lower cost and more effective marketing effort!

Our Assignment

Can you identify and reach your target market?

Call Atwell Fleming today to Improve your profit picture!

Norman Fleming Torrie, BA, MBA

President