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Take the time necessary to develop your unique brand, target market to the groups of people you desire to work with and I can guarantee you that you will watch your business grow by leaps and bounds.
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However if you sell product that you don’t have a passion or interest for then you need to spend some time getting to know the people who buy and use your products.
You are (at least you should be!) an expert on your products but don’t assume that because you know your products so well that you know your market very well also. Study your competitor’s marketing strategy – With more and more marketing being done online these days it’s a lot easier to analyse, and copy, your competition’s strategy.
Once you have narrowed down your target market as much as possible, start focusing your marketing efforts through channels that your target market have an interest in. Definition: Target Marketing involves breaking a market into segments and then concentrating your marketing efforts on one or a few key segments.
In today’s post, we’re going to look at what target markets are, how to identify them, examples of target markets, and how to refine and develop target markets by segmentation. Simply put, a target market is a specific group of people you have decided to target with your products or services.
Although target market and demographic are closely related terms, they are not interchangeable.
Did you know that, if properly stored, Spam can be eaten FIVE YEARS after its sell-by date? Demographics, on the other hand, are subsets of a target market that share particular attributes.
In other words, you can think of target markets as a collection of demographics that may be interested in your product or service. So, now we know a little more about what a target market is (and isn’t), how do you go about identifying one for your business? One of the first steps to identifying a target market for your business should be to take a long, hard look at the people who already buy from you.
Once you begin to identify commonalities between your regular customers, you can begin to use this information to refine your existing customer base into a target market. When researching target markets, it’s vital that you start broad, but become increasingly granular as you progress.
One of the most common mistakes made by businesses of all sizes is a failure to recognize that not everyone fits into neat little demographic boxes. For example, you can use gender as a starting point when conducting research into your existing customer base.
So, now that we’ve talked about how to begin identifying target markets for your business, let’s take a look at how some brands apply these principles to their marketing campaigns. The Miracle-Gro homepage tells us practically everything we need to know about Scotts’ target market for this particular product. Alongside this, you’ll see a banner announcing that Ortho, a manufacturer of lawn care and pest control products, recently became a sponsor of NASCAR championship driver, Greg Biffle.


Finally, you’ll see a slide with a link to “Scotts Garage,” a section dedicated to content featuring lawn care tips, videos, articles and more. It’s obvious that Scotts’ target market is predominantly male, as evidenced by the messaging, visuals and content available on their site. Yes, there’s an element of guesswork involved in these assumptions, but this is much more valuable information than “people who want to take care of their lawn,” right?
Lush Cosmetics’ unique selling proposition is that all of its products are environmentally friendly, and have not been tested on animals. At the risk of playing into gender stereotypes, women are more likely to spend more on cosmetics and beauty products than men (though the male grooming industry is worth an estimated $6 billion annually). For starters, look how much screen real estate is dedicated to advancing Lush’s charitable initiatives. Again, this doesn’t describe all of Lush’s customers, but as a brand, it’s clear that these characteristics are shared by many individuals within Lush’s target market. So, if a target market doesn’t encompass all of your prospective customers, what can you do? Market segmentation can help you understand how your products or services appeal to individuals across several demographics within your target market.
As its name implies, geographic segments can be used to target people living in a specific area. Yes, we’ve been talking about demographics throughout this post, but demographic targeting is an important part of market segmentation. Psychographic segmentation categorizes people by their personality, interests and other factors. You thought I was going to get through a whole blog post without using a tired target metaphor, didn’t you? Well, although I can already feel your disappointment, I hope that this information has been useful. In addition to clear and understand our own target market, but also on a detailed analysis of market competitors.
Sure, it would be great if you could sell to EVERYONE but sales always increase when you target a specific market.
It is better to hit a small target market hard than spread your efforts thinly across everyone. If you fish yourself then great, you already know what appeals to your target market because you are one of your target market! And if you can dominate your niche you will make more money to spend on marketing to a wider market. You might assume that those interested in fishing are mainly male outdoor types but what if there is a growing fishing trend amongst bored housewives? But copying will only get you so far, if you want to really excel you’ll need to come up with some original ideas.
Well, the concept of target markets can become much more complicated if you offer a product or service with wide appeal, or you have a diverse customer base.
This is because, for many businesses, their products or services appeal to a wide range of individuals. For example, many television advertisers purposefully target the coveted (and notoriously fickle) 18-35 age demographic. Even if your current customers seem like a diverse bunch, the chances are pretty good that they will share at least one or two common characteristics.
For example, you might start by identifying homeowners as a potential demographic, but then drill down deeper and discover that homeowners with older children, earning a certain annual income who work in a particular sector are your best customers. However, gender isn’t always binary and some people, such as transgender individuals, may not be easily categorized into narrow demographics.


However, if we examine each brand’s messaging closely, and back this up with some research, we’ll be able to infer a great deal about their target markets.
We can also infer that another demographic within Scotts’ target market is homeowners, as individuals who rent are much less likely to be responsible for taking care of their property’s lawn. Lush’s range of products is extensive, and if you’ve ever used them (my wife loves Lush, so I can attest to their quality), you know how good they are. This tells us that, as a brand, social and environmental responsibility is one of Lush’s core values.
Many Lush cosmetic products – 81% in fact – are vegan, meaning they are made entirely without the use of any animal byproducts. Based on Lush’s commitment to its manufacturing processes, we can assume that many people within Lush’s target market are either vegetarian or vegan.
This can be a powerful way of marketing the same product to people from seemingly radically different demographics, and plays a crucial role in the target marketing of businesses like Lush. However, this type of segmentation refers specifically to what potential customers expect from a product or service, and how their actual experiences influence their behavior.
Just because your product or service appeals to a broad range of people doesn’t mean you can’t learn more about them and market your business more effectively as a result. There are so many competing content sources out there that segmentation and clearly identifying your audience is more important than ever. I agree, it is more important than ever for small businesses to truly know who they're targeting. Without detailed knowledge of your target market, you could be losing business to your competitors or missing out on opportunities to increase sales. Target markets can also be affected by considerations such as buying cycles, product shelf life and other elements that may not be driven by people who might be interested in buying what you’re selling.
That does not necessarily mean that people who are older than 35 fall outside of the advertiser’s target market – it just means they are part of a different demographic. This level of granularity makes it easier to tailor your messaging to appeal to these individuals, even if your customer base is actually much broader.
It’s important to be as inclusionary as possible when looking at potentially sensitive demographics, especially in the imagery and language used in your messaging, otherwise you risk alienating members of your community and prospective customers. The NASCAR sponsorship indicates that many men belonging to Scotts’ target market enjoy sports, and are likely to use at least some of their disposable income to purchase new power tools to keep their lawn trim. The homepage even tells us about an entirely new product line centered around the notion of giving back to community and conservation projects. We can also infer that a substantial part of Lush’s target market is under the age of 30, as individuals in this age group are significantly more likely to purchase goods from socially responsible brands. In addition, marketers often take the long-term profit potential of a target market into consideration when developing their models and marketing strategies, meaning that they have to focus on the bigger picture. Lush products are also made by hand by actual people, not mass-produced in factories, and many adhere to fair trade commerce practices and their ingredients are ethically sourced directly from communities, which improves local economies.
Excluding interest, we can determine that the monthly repayment on this mortgage is roughly $1,121, or $13,463 per year. Based on an interest rate of 4.5%, we can then calculate that to qualify for this kind of mortgage, the homeowner would have to earn at least $51,000 per year.



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