Who is your target market?

This post is defining a piece of your overall Marketing Plan,

A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.

which starts with a Marketing Strategy,

Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.

Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year. Time horizons covered by the marketing plan vary by company, by industry, and by nation, however, time horizons are becoming shorter as the speed of change in the environment increases. Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned.

Target Segments in YOUR Target Market are ...

First off, let's define 'Target Market':

A target market is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. A well-defined target market is the first element to a marketing strategy. The target market and the marketing mix variables of product, place(distribution), promotion and price are the four elements of a marketing mix strategy that determine the success of a product in the marketplace.

4 questions to ask yourself about your target market:

1. Who is your market?
    How do you define them? Who is your best possible customer?
2. What does your market want?
    As in, what product are they looking for? What problem are they seeking to solve?
   How are you poised as thier Solution Provider?
3. What is the size of your market?
    Can I compete?
4. How do they want the product delivered?
    Often the delivery & customer experience is the MOST Important part of what the product is.

NOTE: You can follow your passion & product, if it matches up with what the market place wants!

 Watch this Quick Video tutorial on "Identifying a Perfect Customer":

open source video, online video platform, video streaming, video solutions  

Identifying Your Target Market

Evans Craig, Social Network Connoisseur

P.S. See the image in the post? Well, women (moms) and teens are believed to be also underserved. By targeting them you could make plenty of money like www.emomsathome.com is doing at the moment.

P.S.S. We are still celebrating getting “The Best of Takoma Park 2011″ Award in Marketing, by giving away ALL our 2012 Marketing Strategy Packages for HALF PRICE!
But, we only have a few open slots left, so make sure that YOU are powerfully serviced by getting in ahead of the crowds!