By Ken Burke, Entrepreneur
Determine Your Target Market
Course description
Catapult your business into success by learning how to hone in on a target market and determine who your core audience is.
Learning Objectives: 1. What is the “everyone trap” and why is it dangerous 2. How does defining my target market impact the rest of my business plan 3. What do investors look for in a target market
Who are you selling to? While entrepreneurial optimism might lead you to believe the entire world is your market, success depends on a focused and detailed definition of your core audience. Demographic profiling is just the start; identifying your target market should also include delving into psycho-graphic characteristics such as belief systems and lifestyle choices. In addition to providing starter lists of demographic and psychographic attributes that enable you to build a customer persona, this course includes tips for developing your own business-specific market characteristics, with advice specifically for B2B businesses and companies operating across international borders and cultures You’ll also access methods for ensuring that the target market you pinpoint is consistent with other elements of your go-to-market strategy, from acquisition marketing channels to pricing and promotions. The opportunity to apply tactics step by step in a workshop exercise empowers you to develop a target market definition unique to your business and in alignment with your startup goals.
Related Skills
Course overview - 10
Section 1: Introduction
Section 2: Importance of Your Target Market
Section 3: Target Market Framework
Step 1 - Define Standard Attributes - Demographics
Step 1 (con't) - Define Standard Attributes - More Demographics
Step 1 (con't) - Define Standard Attributes - Psychographics
Step 2 - Develop Custom Attributes
Step 3 - Validation
Step 4 - Adjust Your Strategy
Section 4: Workshop
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