The existence of a target market does not mean that a business should ignore the other groups of customers that exist in the same market. email list These other groups may be the secondary market and may bring income to the business. However, the main income is derived from the primary target market. As circumstances change, a business may also change its target market. Steps in Identifying the Target Market.
Identify the product or service to be offered A business needs to first identify a viable product or service based on the needs and wants of the market. This is often done through a survey that can give vital information and ideas about products that the business can offer.
As an example, a general survey of the Malaysian public revealed that a large and growing percentage of the population prefers chicken meat and chicken based products. The survey also indicated that the main consumers for these products are town and city dwellers within the age of five to 25 years. Possible businesses or products that can be developed from the survey include chicken rearing, processed chicken, chicken meat supply, processing of chicken meat based food products, manufacturing of chicken feed and fast food catering service based on chicken meat.