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[BP] Target Market

Target Market
Who buys your products (or will buy your products)?

Who is your ideal customer? Describe your ideal customer. Who are they?
How do you market your products and services to your customers?

A target market is a particular group of consumers at which a product or service is aimed.

Who is your primary target market?

Defining your target market

Customer Segments
For whom are we creating value?
Who are our most important customers?

Mass Market
Niche Market
Segmented
Diversified
Multi-sided Platform

Customer Relationships
What type of relationship does each of our Customer Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?

Examples
Personal Assistance
Dedicated Personal Assistance?
Self Service
Automated Services
Communities
Co-creation

Target Market vs. Target Audience
A target market is a specific, well-defined segment of consumers that a company plans to target with its products, services and marketing activities. … The term “target audience” is a bit narrower; it refers specifically to the group of consumers targeted by advertisements.

Question to answer: Who are you doing it for?

 

Remember, different target markets might need different types of marketing activities to get your product in front of them.


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