How To Set The Right Target Market?
“How To Set The Right Target Market?”
As we know, a product/service cannot serve all customers with the same level of satisfaction. But to provide the greatest possible pleasure, it can be done by defining the "Target Market".
The target market is the second stage in market analysis, after identifying market segmentation, it is very important to determine the target market. Some of the components that must be considered in determining the target market are:
1. Market Size
2. Demographics
3. Psychology
4. Geography
5. Behavioral
Determining the target market is the most important thing, minimizing the risk of loss and increasing the potential for future business growth.
Do you think, you should adapt the market to your product or your product to match the market?
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