craft and co.

Monday, September 15, 2008

Business Series - Part One

Target Market is a business term meaning the market segment to which a particular good or service is marketed. It is mainly defined by age, gender, geography, socio-economic grouping, or any other combination of demographics. It is generally studied and mapped by an organization through lists and reports containing demographic information that may have an effect on the marketing of key products or services.

When you ask people who are they marketing for many of them will say: EVERYONE, since that is the biggest group ever. Do you think is is the right answer? I tell you NO! For an indie business it is just as important to determine the target market as it is for those giant multi-national companies.
Why? Because you HAVE TO know who are you marketing for!
You have to know:

  • what they like
  • what are their latest trends are
  • where do they spend their free time
  • what do they read
  • what is important for them

Do you know all of this? If yes, than CONGRATULATION. If not, well, you better do a quick research. Because it is much easier to make and sell your good if you know:

  • what your target market loves
  • what their trends are
  • where you can find them
  • where to advertise
  • what catches their eye and soul
Are you willing to work on it to sell more?
I will be back in a couple of weeks, talking about business planning!



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