When it comes to business promotion, experts say that you should use the right marketing avenues. For instance, you should foster the use of brochure printing to accelerate your marketing plan.
This is aside from using business cards and postcards to sell to your target customers. However, having these tools often make business owners forget to whom they are really promoting their products. Who are their targets with which their marketing materials are designed for?
For a business to succeed, it is critical to determine who the target market is. Doing so lowers the cost of marketing and increases the potential for business success. Determining this is the process of discerning the group that make up your customer base. You develop your products and services based on these groups, thus, distinguishing your desired market segment.
Look at huge businesses today, cell phone manufacturers for instance. Why do you think Sony and other huge telephone companies developed affordable phone for the masses? This is because they are developing products for the working class and the masses whose needs are different from that of the upper income class.
So, how do you find your target?
When finding them, there is no exact way of doing it. There is really no exact market segment that you can use. However, when businesses define their market segment they often rely on the following factors, gender (male, female, members of the third sex), age (kids, teenagers, adults, etc.), and income (lower class, middle class, or upper class). Some businesses also use marital status, ethnicity and many other factors in determining their market.
When you have used these parameters and defined your market, you will be able to reach the right people who will benefit from your products and services. Likewise, having the right market allows you to get your message across much faster and create the right marketing campaign. Consequently, you are able to save a lot on the cost of your campaign, get more sales, and receive higher income.
Therefore, for instance you are going to sell women clothing in your boutique. How do you define your target, then? For this example, yours would be mostly women, teens and adults, probably in the middle class, students and working in middle management. After defining them, you need to do a market research. Knowing the lifestyle and their purchasing power is needed.
Here are ways you can do as your marketing strategy: