You have dedicated long hours to develop a new product or finish putting together a great team to offer your services. The thing is, you’re not quite done yet. Not by a long shot. Your next challenge is to introduce people to this offering. And while it seems so simple to advertise, devoting time and resources to target and analyze your market can help maximize your marketing strategies.
5 Steps To Create A Target Market Analysis
Step 1: Narrow Your Focus
Marketing your product well and being efficient while you’re at it is narrowing your focus. Identify which marketing efforts you need to prioritize. What specific needs does your product answer? Consider demographics when finding out who your customers are going to be. For instance, someone fresh out of college has different needs compared to a mother of two.
Step 2: Gather Data
Figures are a great way to present demographic groups with great potential. This might include performing surveys via email blasts or company newsletters. You can also hire a marketing consultant or firm to help you collect your data. The key is to get survey data which will allow you to connect positive responses with certain demographics.
Step 3: Reach The Right Audience
Once you’re done getting data relevant to the targeted demographics, think about the intended receiver of your message. Oftentimes, the buyer is not necessarily the end-user. Therefore, your message has to be tailored-fit for the person making the purchase. For instance, people at home benefits from buying bath soap, however, this product is usually bought by women.
Step 4: Perform A Competetive Analysis
This is the part where you focus on identifying the competition, which is necessary for you to know the strengths and weaknesses of your strongest competitors. What makes you unique from them? What can you offer that customers will not be able to find in businesses similar to yours? These are the questions you need to address.
Step 5: Provide Your Sources
It’s obviously not enough to provide data and facts alone. You have to back them up with hard evidence, which makes it important for you to document sources of the information you gathered. The reader may want to verify ad fact-check conclusions made in the final analysis. You may want to include reference citations to assist anyone who wants to go over your evidence.
8+ Target Market Analysis Templates
1. Target Market Analysis Template
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2. Target Market Analysis Example
Cover all gaps in your previous marketing strategies by targeting your market well through a thorough analysis. Get this target market analysis template to help you bring your product to your intended audience. This template also comes free and can easily be customized. What are you waiting for? Download the file now!
3. Worksheet Target Market Template
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4. Market Analysis Template
Before you can put together a winning marketing campaign, you should be able to go over what your intended audience needs. Your end-user isn’t always your buyer so make sure to create a market analysis that will help you tell the difference. Use this market analysis sample and download it in MS Word and Pages. You can also print the file, anywhere, anytime!
5. Worksheet Target Market Template
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6. Target Market Analysis Template
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7. Market Analysis
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8. Sample Target Market Analysis
properly evaluate your business’ current marketing plan and consumer response through a target market analysis. Download this target market analysis template to make sure you don’t miss out on a customer-focused analysis. Just click on the download button and your file will be ready for printing in any preferred format.
9. Target Market Analysis
Are you sure your marketing strategy and message is sufficient for the market you want to target? Identify your end-users correctly by using this sample target market analysis. It’s important to know who your audience is so that you can put together a winning marketing campaign. Use this template as your guide and modify it as you see fit!