Monday Marketing Minute
Me: Who are your customers? Business owner: Well, anyone with a pulse really.
This presents a bit of a challenge. Here's the thing - there are very few products that everyone will buy, and you've got to have a good handle on who is likely to buy so you aren't faced with the impossible task of getting your wares in front of 7 billion people.
It's much better to come at it from the other end, and describe, in painstaking detail, who is MOST LIKELY to want to buy your product. In the olden days it was the 'target market' and people used to bandy about descriptions like 'men aged between 18 and 45', closely followed by 'if we can get 3% of that market, we'll make millions'. Generally didn't happen of course. No, you're much better off limiting the people you get your wares in front of, to people who are most likely to buy.
The irony is that the case study for this approach is for a product that is now carried around by 15.6% of all users of this device globally. The Apple iPhone. When Apple launched it over 10 years ago they made a list of the seven characteristics of the 'perfect buyer'. And if you were female, you weren't on it. This sounds pretty sexist, but was just an acknowledgement by their marketing team that people who had all seven characteristics were much more likely to be buyers, and one of those characteristics happened to be gender. They were also pretty ageist too - another characteristic was age and the Apple marketing team didn't say males aged 18-35. No, they said male, 31.
See also: 6 Principles of Marketing - No. 2 PC
Image credit: https://www.flickr.com/photos/brykmantra/76765412