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  • 2.01 Identify Target Market

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    The document discusses how to identify a target market, noting that the first step is creating an ideal customer avatar defined by demographics, geographics, and psychographics. It also emphasizes that identifying the target market is the base element that other marketing is built upon. Key principles discussed include the 80/20 rule where 20% of customers generate 80% of revenue, and how to conduct "data mining" through talking to people if no existing customer data is available.

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    2.01 Identify Target Market (1)

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    The document discusses how to identify a target market, noting that the first step is creating an ideal customer avatar defined by demographics, geographics, and psychographics. It also emphasizes that identifying the target market is the base element that other marketing is built upon. Key principles discussed include the 80/20 rule where 20% of customers generate 80% of revenue, and how to conduct "data mining" through talking to people if no existing customer data is available.

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    © All Rights Reserved
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    13 views2 pages

    2.01 Identify Target Market

    Uploaded by

    madisoncampbellquinn
    The document discusses how to identify a target market, noting that the first step is creating an ideal customer avatar defined by demographics, geographics, and psychographics. It also emphasizes that identifying the target market is the base element that other marketing is built upon. Key principles discussed include the 80/20 rule where 20% of customers generate 80% of revenue, and how to conduct "data mining" through talking to people if no existing customer data is available.

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    of 2

    Name ________________ Class _______ Date __________

    2.01 Activity: How to Identify Target Market

    How To Identify Target Market | Target Market Examples by Adam Erhart


    (https://www.youtube.com/watch?app=desktop&v=LeIePgFDAQI)

    1) According to the video, if you fail to identify your target market, then
    _______none_____________ of your marketing will work.

    2) Target marketing is so ____important_______ because it is the ___base______


    element the rest of your marking is built upon.

    3) What is step number 1? ______Having an ideal customer


    avatar_____________________________________

    4) What are the three main core principles of your ideal customer avatar?
    a. _______________demographics___________________________________
    b. _________________geographics_________________________________
    c. __________________psycgographics________________________________

    5) What is step number 2?


    a. Personal fufilment__________________________________________________
    b. Value to market__________________________________________________
    c. Profitability__________________________________________________

    6) What is step number 3?


    a. Requency__________________________________________________
    b. Frequency__________________________________________________
    c. Monetary__________________________________________________

    7) What is step number 4? Analyze current customers

    8) What is the 80/20 principle? The top 20% of your customers are gonna be
    responsible for 80% of your revenue

    9) If you don’t have a business or are launching a new product or service, how can you
    do “data mining”? Talking to people

    10) What does B2C mean? ________Buisness to


    consumer______________________
    11) What does B2B mean? ______Buisness to
    buisness_____________________________

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