Wrong Target Market Essay | Do My Paper Online

In business, choosing the appropriate target market is vital to the success of the company. Assumptions about the target market must be correct; otherwise, the industry will cost you a fortune. A clear target market is important. Marketing to everyone is just a waste of time and resources (Aure, 2021). Not everyone will like your product, but focusing on a specific group of people with genuine interest in your product will do your business well.

If I started a business and my original assumptions about my target market were wrong, I would use questionnaires to get the feedback of the targeted market. The input will prove helpful as I will know where I went wrong in my assumptions. Ideally, it builds a good relationship with your customers (Aure, 2021). Also, instead of starting with a small group, I will begin with a larger group and narrow it down to the target market. Additionally, I would conduct one on one interviews with the target consumers to test my assumptions. It will show me where I erred in making the assumptions.

Based on the responses from the target market, I would adjust my target market accordingly. If there is competition for my product from other firms, I will find out how they are staying in market and successfully fulfilling their customers` needs. According to Aure (2021), if the competitors advertise their product, it is wise to take a keen interest in their target market. I may choose to either go for the same target group or another target group they may be overlooking. Having analyzed all this data, I would know where I went wrong and start the business again; this time around, I will be starting from experience.

 

 

References

Aure, M. P. A. (2021). An Insider Action Research on Identifying, segmenting, and evaluating the target market of Little Happy Box PH towards business growth.

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Wrong Target Market Essay | Do My Paper Online . (2022, June 08). Essay Writing . Retrieved August 13, 2022, from https://www.essay-writing.com/samples/wrong-target-market-essay-do-my-paper-online/
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