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Focusing on your Target Market

Focusing on your Target Market. You are selling car leather seats (upholstery) for $2,000 - $4,000 per set… what car company can afford these types of seats? It costs you about $3.00 to make a cotton t-shirt, you are going to sell them for $10.00.. what stores would you sell them to?

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Focusing on your Target Market

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  1. Focusing on your Target Market • You are selling car leather seats (upholstery) for $2,000 - $4,000 per set…what car company can afford these types of seats? • It costs you about $3.00 to make a cotton t-shirt, you are going to sell them for $10.00..what stores would you sell them to? • To cover your expenses, and so you make a profit, you need to sell your television sets for about $600… whatstores would you sell them to?

  2. Focusing on your Target Market continued • You need to know who your market is so you can be successful!!

  3. Marketing Activities • Who are you selling your product to? • Demographics– characteristics of people/businesses who would buy your product (age, gender, INCOME, ethnicity etc…) • Geographics- where you are selling product ~ geography of country, analysis of potential location • Psychographics - lifestyle/values of people (or companies) who would buy your product • Ex: sporty, fashion conscious, healthy, etc…

  4. Culturally Specific Marketing Considerations: • Customs/traditions • Population • Economic information

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