Business Plan Tutorial: Understanding Your Target Market

Business Plan Tutorial:
Tools to Help You Launch Your Own Business

Understanding Your Target Market

What is a target market?

Target Market: people who you want to use your products or services; people most likely to buy your brand over competing products/services.

The critical element here is identifying the people in your target market. Typically we use demographics -- things like age, income, gender, education, etc. -- to describe these folks, but we could also use things like lifestyles or the benefits they seek/get from using our product.

One other thing to consider. Are your customers -- your target market -- going to be local or global?

Lost? Go to the Map of the Business Plan Tutorial: Tools to Help You Launch Your Own Business.

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