One of the most common mistakes made by new enterprises is targeting too many people. If you want your marketing efforts to be efficient you need to find a target market, that’s a well defined set of present and potential customers that your business attempts to satisfy and you should focus on that specific group. Finding your target market can be done by market segmentation, it identifies the characteristics of the customers you want to reach. You can make a segmentation on psychographic, demographic, geographic … bases. Combine your target market with a marketing mix –product, place, promotion and price- which is especially adapted to their needs to satisfy your target market. When you’re offering one or more marketing mixes to just one segment of a market it will be more lucrative than offering it to the entire market because you can cut back the marketing expenses on groups outside your target market. (ezinearticles)
Sharon Persyn
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