FM Walsh & Associates Inc.

Who Is Your TARGET?

As I wrote about last week, some friends and I started a 5 week business venture advertising campaign.  One of the first decisions we made together was deciding upon our target market.  As the advertising was going out to new university students and families in Victoria, we decided our target market would be grocery stores, recreation centers, local restaurants, and malls.  Breaking our target market into these four categories was very useful as there are 4 people in our business, each person would be tackle one category.  In order to better serve our target market, we studied their ideal customer – figuring out the average income, age, number of people in the household, purchasing power, and hobbies or leisure activities.  With so much information in our back pocket regarding our target market’s ideal customer, we were better able to answer questions and offer information.  Here is an article from Entrepreneur Magazine that discusses different target markets and how to appraoch them.