The Target Market
by isabel.arevalo on March 22, 2017 - 3:55pm
The Target Market
The target market is a concept that’s is a little bit hard to understand sometimes. So here is a process description on how to find the target market, and its importance. The two ways of finding it will be looked at, those ways are: analyzing the demographics and then, analyzing the psychographics. Lastly, the importance of the target market will be tackled.
The first characteristics to look at are the demographic criterions. Those criterions consists of the basic things to know about a target market: age, sex, location etc. These criterions help a lot by defining and thinning the target market. For example; students between the age of 13 and 17 will not be the same market as the middle aged working class. This is why defining the basic characteristics is important. There is two groups of characteristics. The first one being the basics (age, sex), and the second one is the specifics (study field, hobbies). Defining the basic demographic characteristics tells a lot about the consumers. By knowing the customer’s basic information, it is very much easier to create an advertising campaign. But to make the most customized campaign, the specific characteristics are needed. Even if teenagers are all in the same age range, their world is not the same. Some are more into sports and others are into art. To an advertising company, those personal likes (considered as specific characteristics) are the key to a great advertising campaign because it will make the ads personalized to the target market. When the ad is appreciated by the target market, they will be more likely to test the product; which is the goal of the ad campaign.
Secondly, other than the demographic aspect of the target market; there is the psychographic aspect which is extremely important. The psychographics refer to the most personal characteristics of a customer (values, fears, feelings, personality). Those characteristics of the target market are not easily known. Sometimes, to learn about them, a survey is needed. But the easiest way to find out about them is by monitoring habits of certain groups of people on social media. The observable «habits» are: liked pages, the followed public figures and the liked posts. Those social media interactions tell a lot about a target market or specific customers because nowadays, social media are really intrusive. By our internet habits, advertising companies know if we prefer travelling to fashion or healthy diet over a less healthy one. Overall the psychographic characteristics of a target market are very specific to each customer. They are also hard to know without the help of social media and are very needed to create a more specific advertising campaign.
In the end, the target market is a bit hard to find but it is really worth it. Missing out on finding the right target market can cost a lot to advertising companies. But when they find it and customize their campaign and their product to the customers, it can only be a hit!