MY TARGET MARKET
When you are interested in an industry. First you need to know if there is a market for that industry. The market is formed from people that might have interest and needs for products and services in certain industry. Nevertheless, the people inside this market can have different behaviors, thoughts, lifestyle , ages, ethnicity, etc.
As a marketer it is important to know your audience and understand what are their desires and needs. Recognizing your target market not only will save you time and money, but also will give you the results that you expect. To develop a good campaign or a promotional plan to reach this target market first you MUST define your target market.
I am interested in the interior design decoration industry. Thus, the target market i will define is for the company:
POLANCO DECORA
I recognize that POLANCO DECORA has 3 different
target markets. For this exercise i will define a fictional characters.
1.- House wives
She is Martha. She is 60 years old. She was a teacher but now she is retired and stay home and enjoy
of her grandchildrens. She remembers to have bought some Polanco products 25
years ago. She has medium status, because she and her husband have worked all their
lives. She likes to have her house well decorated. She enjoy going on Thursdays with her friends to the coffee. Also she likes to go to the Casino alone or with some friend.
2.- Architects
He is Victor. He is
42 years old. He has his own business company. He has a family and 2 children.
He give his services to house owners, hospitals and companies. He likes to play
tennis and gather with his friends some weekends. Once a month, he goes to play golf also with his friends.
He likes to eat in restaurants on weekends with his family. He has a beautiful
house built by himself.
3.- Hotels and Companies
He is Jose. He is the
purchasing manager. He has 46 years old. He is in charge to make all the
purchase of the hotel. He is conservative and follow orders. He is analytical
and organized. He just make the contact with Polanco, but he does not take the
decision. Even though he does not take the decision, he participates and give
his opinion about what is better for the hotel or company. He likes to
exercise twice a week. Sometimes he
likes to run also as exercise. He is a blue collar worker. He believes he wants
to be employer all his life.
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