Sunday, 23 March 2008

Identifying target markets


Target markets
All of us either buy or sell, or do both most of the time. To be a successful seller is an art and science at the same time. When creating and targeting the right market artists / sellers have a lot to think of. Here is a short list of the things to check. Have a read through and think what target market(s) your items belong to and if you do target the market right.

Age This group helps to determine people's buying habits by the life stage they are likely to be going through. Knowing the population numbers within the each age group helps to calculate the size of potential market.
Gender Whom are you creating the items for? Who will be buying them?
Demographics The study of population distribution can track socioeconomic groupings, ethnicity, income levels and use of the leisure time.
Lifestyle How people live and travel affects the items they require. For example, career women require business clothes, separates, classics.
Physical characteristics Size is related to genetic factors that may be dominant in various locations (for example, western population is getting taller and heavier).
Psichographics It is a study of fashion attitudes, whether people are fashion-active and early or late adopters of styles.
Social class People who are seen to belong to a specific level of society and to shop with their peers.
Social behaviour Broad changes in society (divorces, single-parent families, etc).
Values and attitudes Lifestyle indicators that help marketers determine how to fine-tune sales and advertising materials. Generally people's responses on dating, sex, travel, politics, green issues.
Economic circumstances Salary and disposable income. What do people spent money on. High earning middle class family will spent more on children's education then on fashionable clothes or art.
Religion Influences buying in various means. Modest of flamboyant clothing among certain communities, or create demand for expensive wedding outfits. In some neighbourhoods shops are not open on particular days of the week or festivals.

Article prepared by missbubbles according to Sue Jenkyn Jones' "Fashion Design"

6 comments:

Laura B said...

hi missbubbles, this is lookin so good! I have found some people in blog land you might be interested in regarding marketing/ blogging/ creative industries. If you want to email me, i have just given you mine on etsy convo, i can pass the info on to you.
laura

my little Aura said...

I really like this post because it has all the things that you (should) know but not always use them...

my little Aura said...

I just posted a comment but I got lost in somewhere....lol...........I was saying that I like it it says the truth that every seller should understand before starts her/his business...

Nancy Troske Jewelry said...

Hi missbubbles..
great start and your target ideas will be very helpful to us indie, etsy artists

Sheri said...

missbubbles, just want to say...blog looks great! Very nice work...Thanks!

The team said...

Guys,

I am pleased you like the blog and ideas :-)