Sales & Marketing Management

Depending on the area, business situation, business resources, and competitive
activity, divide a business
market into these areas:

Use the ideas below with
particular reference to
analyzing the market
research data you have
developed about your
customer base

Identify and describe the target market (target audience and/or customers)
and, as much as possible, prepare lists of potential customers or, in some cases,
a geographic location that may be targeted.

Geography

Kind of customer

Size of customer

base

Volume contribution

Profit contribution

Market trends or changes

Number of existing customers

Number of potential customers

Offering provided (kinds and

numbers of offerings, and

offering mix)

For example:

If the target group is a type of business such as a plumbing business,

small engine repair or a restaurant, then lists of the businesses in the

local market are easily prepared.

If the target group were a certain type of homeowner, then urban areas

housing those types of homeowners would be identified.

Estimate the size of the target market.

How big is it in terms of the numbers of potential customers and dollar

volume?

Estimate the growth potential of the target market. That is, how mature is

the market?

What does market research indicate about how many potential users of

the offering have yet to be sold?

Is the offering a consumable that would be used repeatedly by the target

market group?