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Market Definition
Defining your target market can be complex, time consuming and
costly. However, there are simple steps you can take that will
narrow your target market significantly and produce positive
results.
Step One:
Narrow down whether the majority of your target market is male
or female. This can usually be done to a point where there is
an obvious majority. In China, bottled drinks are even
becoming gender specific with the rollout of the He + She
drinks. Recent studies show that men and women look at ads
differently and they even have different reactions to colors.
It is no secret that Men and women buy and spend differently
so you have already gained an advantage.
Step Two:
Determine the age ranges of your market, stay within 10-15
year groups since different age ranges will require different
marketing techniques. Baby Boomers for example require a
significantly different approach than marketing to college
students.
Step Three:
What do the people in your target market do for a living? Are
they doctors, lawyers or candle stick makers (if they are
candle stick makers you are targeting an obsolete market, move
on)? If you are targeting businesses then determine the size
and budget available. Your marketing approach will differ
greatly between a mom and pop business and a fortune 100
company.
Step Four:
Focus on the details. Why do people in your target market buy
your type of product or service? How often do they buy? How
much do they spend on your product or service annually? The
more specific your questions are the more targeted your
marketing campaign becomes.
There are many questions to ask when determining your target
market but these should get you started and help you focus in
on a group that wants and needs your product or services.
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Taking Advantage of Cross Domain
Advertising
The Park Motel, Budget Inn and
the 7th Street Motel have taken advantage of cross
domain advertising by creating:
www.denisonmotels.com
The three motels are all promoted at the new
domain with the Historic Park Motel linked to it's
newly renovated
www.theparkmotel.com website. The two other motels have
individual information pages at the Denison Motels domain.
Several domain names were discussed with
Denison Motels being selected as the most appropriate. Each
motel serves a different sector of the market so the new
domain offers consumers more choices .
Petersen Manufacturing Co. Inc. has
added a full product catalog to their existing
www.petersenmfg.com website. Categorized product listings
and photos of each product line are available with Cad
Drawings and Specifications for those that need them. The
extensive product line is broken out in to three main
categories, Concrete, Metal and Plastic site furnishings and
amenities.
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