Customers usually make a price-based choice if there are no other factors to take into account.
If you are trying to be everything to everyone you will end up being nothing. Decide who it is you want to target and what you want to target them with - then focus all your marketing spend and effort around reaching those people.
"Targeting you market" is probably one of the most quoted and yet abused laws of marketing. You cannot be all things to all people.
"All people" have different motivators, different drivers, different quality expectations, different needs and different ways of measuring success and satisfaction. The focus of marketing is to deliver what the customer wants in a way that enables you
to make a profit. How can you decide what they want when you haven't defined WHO they are? The first thing you need to do is to determine the "WHO!"
To find your target markets think of groups and types of customers who you can add value to. Customers who have a core need that you can meet and who can afford your product or service. Focus all your marketing activity at these people. If you have selected real targets and profiled your customers accurately then you will be able to decide which advertising media to use, how to reach them, and what key messages you should use to gain a positive response from them.
Here are some easy ways to help you decide who your target markets could include:
Ask yourself, "Could these people have a need for my product" and "What would motivate them to buy from me?" If you follow this process you will end up with a clear list of potential target markets for your business.
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©2006 Synthesis Marketing. Synthesis Marketing are experts in business growth. Specialising in helping small and medium sized businesses nationwide to grow, Synthesis offers a unique Marketing Coaching service to help business-owners complete their own marketing, or a Virtual Marketing Team to do it for them! Synthesis is becoming increasingly well known for its fun, interactive and practical workshops and seminars for companies, business groups and networks of business people. |
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