Sales & Marketing Management

The selling cycle of a particular offering used by a target group of customers is
very important.

When a business is analyzing the total market in order to develop a target
marketing strategy, these are very important considerations.

This is because every business segment will have different needs and the

resources necessary to serve those customers are different.

These target market considerations will affect everything the business does.

Therefore, target-marketing analysis is a very important part of preparing a

marketing strategy and the business plan.

Some of the data sources to use in this kind of analysis are:

You need to summarize what you know about your target market. You may
need to list the various kinds of target markets that you expect to service or are
serving and describe each of them.

For example:

If you are, either selling a product that has a useful life for a few weeks or

that the user consumed it in an every few weeks—considered a very

short selling cycle.

On the other hand, if you have a product that has a long useful life and

consumers do not replaced it frequently (for technological reasons),

and then it will have a long selling cycle.

Existing account

information

Trade journals

Industry statistics

The Dominion Bureau of

Statistics

Financial Post Survey of Markets

Contacts influential publication

Associated companies

Telephone Yellow Pages

Government business support agencies