The strength of a business is to have its own identity through unique and effective marketing in order to bring in multiplied profits. The network of a business can be further expanded with systematic management so that the goal of selling products throughout Malaysia and foreign countries can be achieved.
Among the main steps that need to be taken to introduce services or products run by a business is through marketing activities. Marketing activities are not only very suitable to be done by new companies, but also companies that have been established for a long time are still doing marketing activities so that they remain consistent in the market. These activities can be disseminated to the general public by marketing to high-potential prospects, also known as the target market.
Get to know your Target Market
One of the keys to business success is to determine the marketing strategy to the right and appropriate target market. A target market is defined as a group of individuals who have potential and have been targeted in the sale of your product. Among the potential that can be seen is that the target has a high desire and attraction to the products and services that are offered. Several segments have been studied in a way to identify the target market between demographic, geographic, and psychology segments.
Geographics
A geographic segment is a grouping of target markets that are detected based on the location or state of a business. This geography aims to determine the relationship between the target market, which covers a large and wide area. This is because each location and state has different demands and traders should be wise in planning a strategic business plan.
Psychology
Psychology segments are detected based on economic class, personality, or lifestyle. Educational and income status, as well as the type of occupation, also play an important role in determining how to define the psychological segment. Entrepreneurs should also be careful with business plans so that the products and services marketed are still relevant and effective.
Conclusion
In addition to knowing about the segmentation, knowledge of consumer demand is also one of the considerations in knowing the target market. Entrepreneurs must determine the right strategy for marketing their products or services. This is because each target market has different creativity in determining marketing strategies.
Furthermore, entrepreneurs must also have a high level of creativity in planning a marketing plan for their company and products, and not just rely or focus on one platform only. They must also have the initiative to explore various other platforms that follow current developments, such as marketing on websites, social media, and communicating with other entrepreneurs in the same industry.
