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Defining Target Markets Print E-mail
Defining Target Markets

The key to succeeding in business is simple: SALES! SALES! SALES! To generate a sufficient level of sales to make a living, you first need to define the market you are targeting. The government is willing to supply some assistance with this.

Start with the Commerce Department's census publications (www.census.gov). Your local chamber of commerce may also have some information on various industries and their local trends. The better you can define your customers and their interests, distinguishing characteristics, and other distinctive factors about them, the more effective your marketing dollars will become. Once you define their interests, you can begin setting up a plan to display your message wherever your customers frequently go.

To verify that your research is accurate, you may want to conduct some focus group discussions or street/phone surveys. Your local library should have reference books on survey instruments. You can simply copy a survey that has the types of questions that target your market segment. These same books will often explain how to conduct a survey and measure its accuracy.

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