Before starting his own business, a future businessman is recommended to conduct market research to study the opinion of the target audience. But what this audience is like, who these people are - should be clarified in advance.
Target audience is one of the main marketing concepts. The target audience is a large group of people, each member of which can become a potential customer for a specific group of manufactured products (be it sanitary pads or televisions). A certain brand may also have its own target audience. A business can also target a separate social layer - there is little likelihood that premium cosmetics will be bought by a girl who can only afford the mass market.
Basically, the target audience is the people who are most likely to purchase your product. These are buyers who, for whatever reason, are interested in purchasing your product. And this set of people can be sorted according to the following criteria:
- gender;
- age criterion;
- availability of secondary / higher education;
- income level;
- place of residence;
- a list of family members;
- hobbies and hobbies.
It is advisable to conduct research to determine the target audience. So you can find out who will need your product, and who is completely uninterested in it. So, if you plan to open a fast food cafe and conduct a marketing survey, you will find that students, schoolchildren and young people under the age of 25 will express the greatest excitement about opening a new bistro. Because they are most often interested in a quick “snack on the go”. This does not mean that people in their thirties and fifties will not come to you, just the percentage of their visits will be much lower.
Consider the results of the survey when writing a business plan - you will know the breadth of the future market, working conditions on it and your sales strategy. In addition, you can work out a strategy for the development and expansion of the business based on the information received about the preferences of potential customers.
