Identifying your target buyers involves market research and analysis. Here are some steps to help entrepreneurs identify their target market:
Market Segmentation: Divide the market into distinct groups based on demographics, psychographics, and behavioral criteria. Customer Profiling: Create detailed profiles of ideal buyers, including age, gender, income level, interests, and buying habits. Competitor Analysis: Study competitors to understand who their buyers are and identify potential gaps in the market. Surveys and Feedback: Gather insights directly from potential buyers through surveys, interviews, and feedback forms.