How to Create a Strong Brand for Your Business How to Create a Strong Brand | Page 10

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Research your
market connect with
your customers

What is your target
market?
Your target market is the group of customers that
your marketing efforts are aimed towards. The
more clearly you understand your target market,
the more your marketing materials will appeal
to the people in your target market, thereby
generating a better response rate. Consequently,
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
your business.
Target markets tend to be defined by market
segmentation including geographic, demographic,
psychographic (attitudes, values, and lifestyles),
product-related, etc. Your product/service will
determine your target market and vice-versa.
Having identified and defined your ideal target
market, compare it to the markets in which
your existing customers operate. If there is a
discrepancy between your actual market and
your target market, think carefully about why
that is the case and how you will transition from
one to the other.
The next phase in your brand and marketing
strategy is to determine how your new brand
will differentiate your business from your
competitors in your target market(s).
Your differentiation strategy will be an important
factor in developing your new brand. When done
well your brand can become the key differentiator
in your marketplace.

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What makes an ideal
customer for your business?
Before you can describe your ideal customer you
first have to have a clear understanding of what
makes an ideal customer for your business. This
will vary from business to