A few days ago I introduced this challenge to my readers, to help me write the second addition of my book, :The Entrepreneur’s Notebook.
Over the next few weeks I am going to post sections of the original text and ask for additions, corrections and other ideas. Anyone who submits ideas will be included in the list of contributors for the book.
Today’s Text comes from the Section on Defining Your Target
The process of defining your target customer is not about limiting to whom you sell, but simply to whom you actively try to reach with your marketing materials.
Few companies, with the exception of perhaps Coca-Cola® or McDonalds®, have sufficient funds to support a true mass market campaign, reaching all consumers.
Instead, savvy marketers look to down their audience to those people who are most likely to buy. Their goal is to craft a message which is relevant to these prospects and potential customers. It is about reaching the right customers, with the right message, at the right time!
So I am looking for thoughts and ideas on how to segment your market, find or define your niche, as well as examples of companies you think do this well.