Most of the companies are focusing on the target market before starting their business. The Target market is the first part of the marketing strategy, and target market is focusing on group of consumers that company wants to target. The Article “Use Demographic to understand your target market” gives two steps about the target market. The first step is identify customers, and the second step is to find consumers needs. Company and entrepreneur will ask a question “How can the company or entrepreneur identify customers or their needs”?
First of all, to identify customers, the company or the entrepreneurs have to look for demographic area. They have first to determine the area that they are planning to target, then they have to do research to find the population present, age, income. They can find these entire statistics through the US department of commerce.
Secondly, the company or entrepreneurs have to find out lifestyle in the area that they are going to target. To be specific , they have to discover the people lifestyle in the area like are people conservative in spending or are they spenders , do they like outdoor or indoor activities , what is the weather like ? All these questions will help the company or entrepreneur to find what can they sell, and it helps them to determine the price.
Thirdly, the company or entrepreneurs have to satisfy the consumer’s needs in the area, and they have to discover that what are people need in this area? Maybe they have do not have restaurant or health club?
In summary, these entire steps that mentions in the article will help the company to discover their consumers through identify the group of consumers, and find their needs.
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