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Identifying Your Target Market

Identifying Your Target Market

42mBeginner2019-10-10

Authors

EntrepreneurNOW

EntrepreneurNOW

Learning community for entrepreneurs

Course details

Who are you selling to? Success depends on a focused and detailed definition of your core audience. In addition to providing lists of demographic and psychographic attributes for building a customer persona, this course includes tips for developing your own business-specific market characteristics, with advice specifically for B2B businesses and companies operating across international borders and cultures. You can also access methods for ensuring that the target market you pinpoint is consistent with other elements of your go-to-market strategy, from acquisition marketing channels to pricing and promotions. The opportunity to apply the tactics in a workshop exercise empowers you to develop a target market definition unique to your business and in alignment with your startup goals.

Learning objectives
What is the “everyone trap”?
What do investors look for in a target market?
Defining the demographics of your target market
Leveraging psychographic profile information
Uncovering business-specific market sizing indicators
How many target markets to focus on
Impacts on your go-to-market strategy

Skills covered

Marketing StrategyMarketingDeep Dive (X:Y)

Concepts

0. Introduction

  • 01 - Target market essentials

1. Importance of Your Target Market

  • 02 - Why is your target market so important

2. Target Market Framework

  • 03 - Define your target market
  • 04 - Step 1. Define standard attributes - Demographics
  • 05 - Step 1. Define standard attributes - More demographics
  • 06 - Step 1. Define standard attributes - Pshychographics
  • 07 - Step 2. Develop custom attributes
  • 08 - Validation
  • 09 - Adjust your strategy

3. Target Market in Action

  • 10 - Target market essentials

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