One of the first things entrepreneurs need to determine is: “Who or what is the perfect customer or client for my business?” Business owners need to know exactly (or as exact as possible) who their customers are in order to get something worthwhile out of marketing their product or service.
Geographic, demographic, and psychographic are the three main ways business owners can find their target market. Once the target customers are known, the next step is to begin to design a plan around how you will market to them. If entrepreneurs try to blanket everyone with one marketing message, over half of the audience might be lost because it might not apply to them.
Once business owners have their target market, they will be more focused and effective in marketing strategies and be able to get a greater return on the marketing investment.
Presented by: Jennifer Adams – RCNE Development Director, University of Alaska Fairbanks
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