It may seem counterproductive to narrow down your planned market before you even started doing business but this will allow you to design something that attractive and sellable to a specific audience. You need to consider aspects such as the age of your potential customers, their sex, social class, race and level of education, as all these things will affect how you market your product. Try to be selective without being too limited. For example, it may benefit you to focus on young male Asian Muslims in Bradford, but not single white females from Brighton called Jenny! In the exercise below, define three characteristics of your target customers for one of your own business ideas. Marketing comprises everything involved in getting your merchandise to market and selling it. Therefore, the process is traditionally outlined in terms of the following four elements: product (an exact description of what you selling), promotion (publicising and advertising what you have to offer), price (what people will pay) and place (where the product is made and how it distributed). You need to ensure that each of these four Ps is appropriately developed with your specific customers in mind. The following sections outline how you can do this.
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- Getting your business started
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