Is your product suitable for Millennials? Will the generation of our parents use a new Samsung smartphone? These questions are essential if you want to deliver it to the right person. Execution of any marketing strategy starts with a clear understanding of who your target audience is.
A target audience is a group of people who are most likely to buy and use your product or service. These people might share similar demographic qualities like age, income, family size, and gender. But you can also reach people who have similar purchase habits or lifestyles.
When you know your target audience, you can move to the next step and divide it into smaller segments. This process is called segmentation. For instance, if your product is a dating platform, your target audience may cover single people from the whole country. So, creating more specific segments will help to learn customers' preferences. How to divide the audience?
Marketers use traditional characteristics to identify market segments: