Creating a Brand for a New Business Guide to Creating a Brand for a New Business | Page 8

5
Research your
market connect with
your customers

What is your
target market?
Your target market is the group of customers you
aim your marketing efforts towards. A well-defined
target market is not only a critical element of your
marketing strategy but also plays a significant role
in developing your brand and, consequently, in the
success of your business.
A good way to identify your target market is to
consider what makes an ideal customer for your
business. There is no ‘one answer fits all’ response
to this question. The elements and factors that
make your ideal customer will be specific to your
business.
Think carefully about what makes an ideal
customer for your business and describe their
general characteristics. For example, if you are in
the B2B market then you may consider questions
such as: What sort of businesses are you
targeting? – small, large, multi-nationals, etc.,
What locations? - local, national, international, etc.
The information you create here will help you to
describe your target market which will, in turn,
help to define your brand.