Friday, March 25, 2011

Your Target Market

Yes... I'm still talking about that conference.

Another panel discussion I found very interesting was about "knowing your target market."

They demonstrated an exercise of envisioning our target market.
We were to pick specific things for the following categories for our potential clients.
If our clients were (or were to use) the following, what would they be?

1. Hotel
2. Car
3. Restaurant
4. Magazine

The lady who volunteered to be an example said, her client would
1. Stay at Intercontinental Hotel,
2. Drive a Cadillac Escalade,
3. Eat at Ruth's Chris and
4. Read a local information magazine

So, I decided to do the exercise myself too.

1. Hotel: Ace Hotel

A boutique hotel in Portland, NY, Seattle, Palm Springs, etc.
It's not super cheap, but not too expensive. It's more "edgy" than "gorgeous."
Popular among hipsters. Customers range from early 20's to late 30's.

2. Car: Toyota Prius

Or any other hybrid car

3. Restaurant: Urth Cafe

A cafe known for its organic coffee in LA. The food here is excellent!! It's definitely not a hole-in-a-wall diner price, but it's reasonable. Santa Monica or Beverly Hills locations are known to be favored by celebrities. It's one of my favorite restaurants too.

4. Magazine: Real Simple

A lifestyle magazine which covers home/garden, food, beauty/fashion, decoration/organization, health, etc. I'm not really sure, but I think it's a magazine catered for a women in her 20's to 40's.

So... my target market is:

A women who are in 20's to late 30's who like to be eco-friendly and organic, and wouldn't mind paying a little extra for style and quality?


I'm not TOO sure that's my target market.
It's more like I just described myself (although I'm not really eco-friendly nor organic...)

I should re-visit and do it again some other time.

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