C1 Determine the Target Market
In order to best meet the needs of customers, it is important to first identify your target market. Steps to identify your target market include
Establish your product offering. What are the benefits? What needs does it meet? What is your geographical reach?
Research the market. Conduct market research to find customers who would have their needs met by this product.
Segment the market by identifying key characteristics shared by your potential customers.
Conduct ongoing research within this segment to establish more specific needs and tailor your product, service and whole marketing mix to them.
