What Is the Importance of Defining Your Target Market for Your Business?
Is your business catered to a specific market or a general audience? If you answered general audience, you need to think again. Is your product being used by some individuals? Or certain regions? Or certain industries? Well then, general audience is not the answer. Every product or service is catered to a group of people that have specific traits or characteristics and also show interest in what you have to offer. A Canadian companies database that allows the user to slice and dice the data to find specific information is key in helping define the target audience, communicating with them, and delivering products and services based on their needs. What Is a Target Market? A target market for any business can be defined as a set or group of individuals sharing similar needs and other characteristics who are most likely to be the end-users of the products and services you have to offer. A market can be divided based on the following segments: Demographic segmentation – a...