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Who is your Target Market?

Discover your target market demographics, behaviors, and buying habits to tailor your products/services effectively. Use insightful surveys to gather valuable customer data.

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Who is your Target Market?

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  1. Who is your Target Market?

  2. Customer Profile • How do I describe them? • What do they need? • How many of them are in my proposed area? • What are their spending habits? • What is the process customers use to buy the • product(s)? • What is my geographic market?

  3. Customers Demographics • Research the 'demographics' of your community, and divide it into market segments: • Age: children, teens, young, middle, elderly • Gender: male, female • Education: high school, college, university • Income: low, medium, high • Marital status: single, married, divorced • Ethnic and/or religious background • Family life cycle: newly married, married for 10 – 20 years, • with or without children.

  4. Buyer Interests Lifestyle: conservative, exciting, trendy, economical Social class: lower, middle, upper Opinion: easily led or opinionated Activities and interests: sports, physical fitness, shopping, books Attitudes and beliefs: environmentalist, security conscious.

  5. Buyer Behavior • Who buys, when, where, what and how? • Who is the actual decision maker for the purchase? • What are the stages of the buying process? • How long is the buying process?

  6. Survey Format • Keep it simple. • Include instructions for answering all questions included on the survey. • Begin the survey with general questions and move towards more specific questions. • Keep each question brief. • Design a questionnaire that is graphically pleasing and easy to read. • Remember to pre-test the questionnaire. • Mix the form of the questions. Use scales, rankings, open-ended questions and closed-ended questions for different sections of the questionnaire. • The "form" or way a question is asked may influence the answer given.

  7. Question Format • Close-end questions – • "yes" or "no" • choose from a list of several answer choices. • Scales that rank answers • For example, a respondent may have the choice to rank their feelings towards a particular statement. The scale may range from "Strongly Disagree", "Disagree" and "Indifferent" to "Agree" and "Strongly Agree." • Open-end questions - Respondents answer questions in their own words. Completely unstructured questions allow respondents to answer any way they choose. • Word association questions ask respondents to state the first word that comes to mind when a particular word is mentioned. • Sentence, story or picture completion questions ask respondents to complete partial sentences, stories or pictures in their own words. • a question for commuters might read: "My daily commute between home and office is _____ miles and takes me an average of ______ minutes. I use the following mode of transportation: _______."

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