The target audience is essential once you have done with Product or service to start a business. Customers are identified based on your Product or service. By planning whom you want to sell, Either for the end consumer or for business people (B2B or B2C ) you can fix the target audience.
The target audience is all about focusing right set of people to sell your product or service(P/S). This can be done through market research where we can find people’s behavior and interest
The fundamentals of setting a target audience are.
Focus on solving customer needs
Once a customer is ready to buy product or service which is done only when he/she satisfy their human needs. The customer satisfaction which will be ideal for the prospect who depends on product or service completely.
But the point is why he/she procure goods or services from you. When the point of sale (POS) happens only when a consumer likes or has trust in product or service.
Integration of 4 P’s in identifying the target audience.
The 4 P’s plays a vital role in your business. This helps your product/service to position in the market. So what will be 4 P’s all about (Price, Product, People, Place)?
Target audience evolves in this process where it is integrated with each other.
All business owners or working professionals run behind people to sell their product or service. For that, you should figure whom your clients and customers what are their problems and needs those are things we should work on and expertise in the field.
We should work on with market size is, whether you are targeting A, B or C audience. In today’s market for product base industry works on quality and giving a better experience but there is a decrease in product lifespan which doesn’t exist more than 2 or 3 years.
This is where you set your product or service to fix the rate, So customers can avail it, If you plan to deliver a high quality then your price will be high. The target audience is all about the people whom you are planning to sell in end of the day.
The price where all the customer’s things about product or Service is worth for money to buy. Evaluation generally happens from the cost of producing the product to delivering the end product to consumers.
Most people would be setting up low prize compare to existing competitors where they can grab the consumers to their sides.
The essential thing for setting up your target audience is Geo-graphics, where you are going to sell it. When you are targeting customer you should identify there needs and wants. We should also see the market size and the size of the population that you target.
The product or service you going to provide is for the “People” where you can find a different kind of people. This happens because the mindset of people is different from one to other. In this case, you will study the behavior of customer from the following
- Is that are you targeting Male or Female??
- what will be Age group that you focus on your product or service to sell??
- Personality and attitude play a vital role in understanding customer behavior.
- To know about the job description
To get all these information companies conduct a survey and know the customers buying behavior. Through this, we people views will be different from person to person.
If the person likes scope of product or service and financially sound, they land up in adding advantage for the company as Investor in the company.
The target audience is all about to know whom you are going to sell and identifying the market size of it.