Determine Your Target Market

By Ken Burke, Entrepreneur

5.0
Language: English

This course is for you

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.

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

Meet your instructor

Ken Ken
Ken BurkeEntrepreneur
Ken Burke, founder and CEO of The EntrepreneurNOW! Network, is a speaker, serial entrepreneur, mentor, and author. Ken founded MarketLive, a market-leading, enterprise class eCommerce software platform used by major merchants generating $2b in online sales through the platform. He sold MarketLive to Vista Equity Partners in 2016. Ken recently published his book called, “Propser: 5 Steps to Thriving in Business and Life”. Ken also has a podcast called, “Optimize Your Entrepreneur Brain”, which is available on Apple Podcasts or wherever you listen to your podcasts. He earned his MBA in Entrepreneurship from University of Southern California -Marshall School of Business, which later awarded him the honor of Entrepreneur of the Year.