Focusing on the target market is crucial for any business to grow irrespective of its size; however as a small business it becomes even more crucial as you do not have the luxury of huge investments to experiment with marketing to larger or supplementary markets.
A single look at your product or service may not be enough to decide your target market or ideal buyer, as is normally perceived by most businesses. This understanding of your ideal buyer will go on in defining your target market. For instance, a fashion boutique shouldn’t target all women, rather define their ideal buyer based on the kind that they sell, if it is more suited to working women, then your target market becomes all working women rather than focusing on all women groups. So our first task is to: