India: Business Consulting | Property Solutions

Identifying your target market is something important for every small business. Mostly, we get into two types of target market – the Natural Market & the Niche Market. What does each of them mean to us?

The Natural Market – When I mention natural market, it means the prospects that surround you neighborhood, the people whom are meeting or calling them daily, your relations, etc.Yes! Pick up your telephone directory or mail list & start contacting each of them to tell them about your product or service. The benefit you gain here in the natural market is that it’s easy to get appointments as most of them are known to you. You get sufficient time to convince them about the value what you provide. You may also get a sale or more referrals by them.

The Niche Market – Let me now talk about the Niche market. After spending some time prospecting in the natural market, gradually you will come to know the proper age group or location or professionals who are in dire need of your product or service & are ready to buy too. Once this is known, you need to have a signature presentation ready for them, create customized brochure for the niche market & start pitching to them. This always cuts short the selling time & leads to quicker prospecting for getting leads.

Facing problems on how to find target market then get marketing advice

One has to seriously rethink in making changes in their marketing strategies by following these steps.

Know Your Competition – One should make a good survey to know their present competitors and the future competitors who may reach forward to taking away your customers or market .Make a regular follow up on listing out your rivals in the Industry.

Know Competitors closely – Now that you have identified your competition, the next step will be to closely understand them. Note their Strengths and of course the weakness that will help you preparing effective marketing strategies. Keep a close eye on those competitors whose approach to the market seems more aggressive & turn out profitable too.

Comparison factor – Probably the best way to implement better marketing strategies is having a comparison table that shows the marketing approaches of your organization along with some of the leading competitors in the market promoting similar services or products.

Shaping Strategies – Once you listed out and know what is going wrong or what needs to be changed in your marketing approaches, you can start making the appropriate changes. You now need to make an approach that will surely have a leading edge over your competitors.

I am sure this small piece of information has really helped you. Are you requiring more information or suggestions? State your requirement to any business problem faced while marketing product or services. We can be reached here…