Marketing Techniques

This week we discussed target marketing and what a target market should be. What is a target market?  "A target market refers to a group of potential customers to whom a company wants to sell its products and services. This group also includes specific customers to whom a company directs its marketing efforts. A target market is one part of the total market for a good or service" (Investopedia, 2019)

Basically its the people or the audience that you are trying to sell to and an easy way to determine who it is you want to market towards is by using Demographics and Psychographics. Demographics are factors in a person which can perhaps be found out via just observation such as age, sex, race, if they have kids, if they are married as well as stuff as income and education, while Phychographics are factors in a person which are deeper and more personal to each user such as politics, hobbies, likes and dislikes.

Think of Demographics as "facts" about a person and Psychographics as the opinions of that person. Two people can be born the same day, have the same job, earn the same wage and live in the same area, but have completely different opinions about everything such as music to the government.  

Demographics and Psychographics together can make for strong marketing and can be used to help form buyer personas, these being a tool to help picture the audience you want to appeal to buy giving them a name and a background to find out why they would want your product. 

To help show how these can work, i made 3 buyer personas, which you can see below

Investopedia. (2019). Target Markets: What Everyone Should Know. [online] Available at: https://www.investopedia.com/terms/t/target-market.asp [Accessed 4 Mar. 2020].