Putting your market research tools to use is a great way to get your actual business started. Your first step should be identifying a target audience. This group of individuals is the people who you want to market your products and services. Second, determine if your products or services match what your potential customers may want or need.
By correctly defining a client base, a company is giving itself a chance to succeed in fully positioning their products or services in the right marketplace.
Whether you want to sell to 30 year old wine drinkers or major suppliers, there are two groups of customers whom you will end up targeting: end users and channel users.
The end users are typically the ultimate users of a company’s product or service. In order to identify your end users, you will need to consider both lifestyle and demographic characteristics. Demographic data is defined as tangible and measurable information that separates one group of individuals from another. Examples are:
•City Size
•Gender
•Education
•Income
•Age
•Marital Status
•Geographic Location
•Occupation
Intangible information falls within lifestyle information. These include:
•Music favorites
•Literature favorites
•Values
•Morals
•Religious beliefs
•Cultural beliefs
•Political beliefs
•Entertainment and recreation activities
Channel users serve as intermediaries between end users and business owners. A product can start with a large distributor and then be sold to a local distributor who then resells it to a wholesale buyer. Ultimately, the manager of owner of a store places the products on the store shelves for purchase by end users.
About CODANK Charlotte Web Design
CODANK is a top Charlotte Web Design and Internet Marketing Company located in Charlotte, NC. The company is dedicated to providing a broad range of web design services. CODANK specializes in Search Engine Optimization (SEO), Graphic Design, Online Marketing, and Web Design and Development.
For more information, visit CODANK Charlotte Web Design and Internet Marketing Company at www.codank.com
Showing posts with label demographics. Show all posts
Showing posts with label demographics. Show all posts
Friday, June 18, 2010
Monday, January 4, 2010
Study Your Potential Customers: Demographics
Becoming familiar with your potential customers is very important when running a successful business. Evaluating the population of a particular community, their needs and wants can help properly position a business’s product or service. This is done through demographics.
Read over the following demographics when you begin evaluating the residents of a particular area:
Age – Are the residents in the Generation X, or are they baby boomers? If you’re product or service is geared toward 18 year olds, it is best not to set up shop in an area of senior citizens.
Place of Residence – Where people live often dictates how they spend their money. Getting insight into their socioeconomic level is very important. Do they rent or own their own homes? Do they live in an apartment or a high-rise condominium?
Occupation – What types of jobs do the residents have, and where do they work? Knowing this information will also give you a sense of their spending habits and socioeconomic level.
Disposable Income – Do they have a strong purchasing power? If the residents have a fair amount of disposable income, much of it could end up benefiting your business.
Hobbies or Extracurricular Activities – Do the residents perform any activities that could create opportunities for your business?
Transportation – Are residents able to get to your business’s location easily? Do they have reliable transportation or do they ride on public transportation? It is best for a business not to become established in a location that will be difficult for potential customers to reach.
About CODANK Charlotte Web Design
CODANK is a top Charlotte Web Design and Internet Marketing Company located in Charlotte, NC. The company is dedicated to providing a broad range of web design services. CODANK specializes in Search Engine Optimization (SEO), Graphic Design, Online Marketing, and Web Design and Development.
For more information, visit CODANK Charlotte Web Design and Internet Marketing Company at www.codank.com
Read over the following demographics when you begin evaluating the residents of a particular area:
Age – Are the residents in the Generation X, or are they baby boomers? If you’re product or service is geared toward 18 year olds, it is best not to set up shop in an area of senior citizens.
Place of Residence – Where people live often dictates how they spend their money. Getting insight into their socioeconomic level is very important. Do they rent or own their own homes? Do they live in an apartment or a high-rise condominium?
Occupation – What types of jobs do the residents have, and where do they work? Knowing this information will also give you a sense of their spending habits and socioeconomic level.
Disposable Income – Do they have a strong purchasing power? If the residents have a fair amount of disposable income, much of it could end up benefiting your business.
Hobbies or Extracurricular Activities – Do the residents perform any activities that could create opportunities for your business?
Transportation – Are residents able to get to your business’s location easily? Do they have reliable transportation or do they ride on public transportation? It is best for a business not to become established in a location that will be difficult for potential customers to reach.
About CODANK Charlotte Web Design
CODANK is a top Charlotte Web Design and Internet Marketing Company located in Charlotte, NC. The company is dedicated to providing a broad range of web design services. CODANK specializes in Search Engine Optimization (SEO), Graphic Design, Online Marketing, and Web Design and Development.
For more information, visit CODANK Charlotte Web Design and Internet Marketing Company at www.codank.com
Monday, December 7, 2009
Know Your Focus: Target Audience
Consumers share numerous common interests and beliefs. Anything ranging from soccer to photographer and everything in between, the connection can be just about anything. The same interests that bond people are the same things that help connect them to businesses. Before a company can promote a product or service, they need to choose an appropriate target audience.
In marketing and advertising, target audience (also known as target group or target market) is the most important group of people that an advertising campaign is aimed at appealing to. Deciding on a target audience helps to establish a significant foundation for any business. Once it is understood who your target audience is, learning more about them will make easier for a company to market.
A target audience can be selected by collecting information that deals with either demographics or psychographics.
The more a business knows about their target audience, the more persuasive a business will become. It is best to understand the problems that they may have and the language they speak.
For example, if you are a social network website which allows your visitors to post blogs, videos, statuses, and comments, more than likely your target audience will consist of individuals who enjoy writing (bloggers; young or old), taking photos (professional and amateur photographers), and those who like to record their minute-by-minute life happenings (teens; adventurists).
Examples of Different Target Audiences:
Web Designers
High School Freshmen
SUV Lovers
High-Income Families
Videographers
Tiger Woods Supporters
Time Warner Users
Mountain Bike Riders
Young Adults (Ages 21-24)
About CODANK Charlotte Web Design
CODANK is a top Charlotte Web Design and Internet Marketing Company located in Charlotte, NC. The company is dedicated to providing a broad range of web design services. CODANK specializes in Search Engine Optimization (SEO), Graphic Design, Online Marketing, and Web Design and Development.
For more information, visit CODANK Charlotte Web Design and Internet Marketing Company at www.codank.com
In marketing and advertising, target audience (also known as target group or target market) is the most important group of people that an advertising campaign is aimed at appealing to. Deciding on a target audience helps to establish a significant foundation for any business. Once it is understood who your target audience is, learning more about them will make easier for a company to market.
A target audience can be selected by collecting information that deals with either demographics or psychographics.
The more a business knows about their target audience, the more persuasive a business will become. It is best to understand the problems that they may have and the language they speak.
For example, if you are a social network website which allows your visitors to post blogs, videos, statuses, and comments, more than likely your target audience will consist of individuals who enjoy writing (bloggers; young or old), taking photos (professional and amateur photographers), and those who like to record their minute-by-minute life happenings (teens; adventurists).
Examples of Different Target Audiences:
Web Designers
High School Freshmen
SUV Lovers
High-Income Families
Videographers
Tiger Woods Supporters
Time Warner Users
Mountain Bike Riders
Young Adults (Ages 21-24)
About CODANK Charlotte Web Design
CODANK is a top Charlotte Web Design and Internet Marketing Company located in Charlotte, NC. The company is dedicated to providing a broad range of web design services. CODANK specializes in Search Engine Optimization (SEO), Graphic Design, Online Marketing, and Web Design and Development.
For more information, visit CODANK Charlotte Web Design and Internet Marketing Company at www.codank.com
Monday, August 10, 2009
Your Focus: Choosing a Target Market
These days, people are connected by many common interests and beliefs. From basketball to blogging and everything in between, the correlation can be just about anything. But, what does the interest of people have to do with a business? Well, once a company decides to promote a product or service they need to choose a target market.
Deciding on your target market lays a significant foundation for your business. When it is clear who your target audience is, getting a clear understanding of them will make it a lot easier for you to market. You will be able to know where to focus your selling and marketing efforts and also your research efforts.
It is best to understand your market, the problems they have and the language they speak. The more you know and understand about your target audience, the more compelling you will become.
Once you have determined your targeted audience, the next step is to enhance it even further. What sort of people are they? Collect their demographics and psychographics. Demographics deal with basic facts such as age, gender, income, location, etc. Psychographics deals more with characteristics, values, beliefs, etc.
For example, if you are a web site company which allows its visitors to post photos, videos, and comments, more than likely you will target individuals who enjoying taking pictures (photographers; young or old), record their day-to-day life (aspiring videographers; teens; adventurous), and those who take pleasure in writing (bloggers; novelist).
Examples of Different Target Markets:
· Teens (Ages 12-16)
· Bloggers
· Native Americans
· Eli Manning Supporters
· Photographers
· Christians between the ages of 30-45
· Small Business Owners
· Scoot Coupe Lovers
· Low-Income Families
· Female Boxers
About CODANK Web Design
CODANK is a top rated Web Design and Internet Marketing firm located in Charlotte, NC. We are dedicated to provide the highest quality, cost effective custom software development services, delivering a broad range of business consulting and outsourcing services. For more information, visit us at www.codank.com
Deciding on your target market lays a significant foundation for your business. When it is clear who your target audience is, getting a clear understanding of them will make it a lot easier for you to market. You will be able to know where to focus your selling and marketing efforts and also your research efforts.
It is best to understand your market, the problems they have and the language they speak. The more you know and understand about your target audience, the more compelling you will become.
Once you have determined your targeted audience, the next step is to enhance it even further. What sort of people are they? Collect their demographics and psychographics. Demographics deal with basic facts such as age, gender, income, location, etc. Psychographics deals more with characteristics, values, beliefs, etc.
For example, if you are a web site company which allows its visitors to post photos, videos, and comments, more than likely you will target individuals who enjoying taking pictures (photographers; young or old), record their day-to-day life (aspiring videographers; teens; adventurous), and those who take pleasure in writing (bloggers; novelist).
Examples of Different Target Markets:
· Teens (Ages 12-16)
· Bloggers
· Native Americans
· Eli Manning Supporters
· Photographers
· Christians between the ages of 30-45
· Small Business Owners
· Scoot Coupe Lovers
· Low-Income Families
· Female Boxers
About CODANK Web Design
CODANK is a top rated Web Design and Internet Marketing firm located in Charlotte, NC. We are dedicated to provide the highest quality, cost effective custom software development services, delivering a broad range of business consulting and outsourcing services. For more information, visit us at www.codank.com
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