Location also plays a role, because sometimes your product is in high demand only in certain areas
Posted: Tue Jan 28, 2025 4:55 am
b. Geography
Once you know the demographics, the next step is geography.
For example, selling traditional food may sell better in rural areas than in cities.
Or maybe you want to focus on a specific state or region first before expanding to other places.
You can also consider environmental factors like weather — for example, if you're selling winter clothes, it's more appropriate to target areas where there is winter.
Apart from that, understanding the geography of your target market also allows you to make better decisions in choosing sales channels.
If you know that more customers come from urban areas, maybe you could consider selling through e-commerce or online platforms.
But if the target is more in rural areas, perhaps selling through agents or physical stores would be more suitable.
You can also adjust your marketing methods according to the culture and customs of the local community, so that your message is more relevant.
c. Buying Power
Another thing is to know the economic capabilities of bulgaria phone data your target market. Not everyone can afford premium products.
If your target market is more of a middle-class group, make sure the price of the product is affordable for them.
Don't be shocked if the price is expensive, but no one can afford it.
You can also create different product categories for various segments — for example, a basic version for the middle class, and a premium version for the high-income group.
To understand the purchasing power of your target market, you can look at factors such as the average income in the area, lifestyle, and spending patterns.
By understanding this purchasing power, you can set appropriate prices and avoid situations where your product is considered too expensive or too cheap.
This also helps you to plan the right promotions or discounts, so that you can attract the attention of various types of customers.
Once you know the demographics, the next step is geography.
For example, selling traditional food may sell better in rural areas than in cities.
Or maybe you want to focus on a specific state or region first before expanding to other places.
You can also consider environmental factors like weather — for example, if you're selling winter clothes, it's more appropriate to target areas where there is winter.
Apart from that, understanding the geography of your target market also allows you to make better decisions in choosing sales channels.
If you know that more customers come from urban areas, maybe you could consider selling through e-commerce or online platforms.
But if the target is more in rural areas, perhaps selling through agents or physical stores would be more suitable.
You can also adjust your marketing methods according to the culture and customs of the local community, so that your message is more relevant.
c. Buying Power
Another thing is to know the economic capabilities of bulgaria phone data your target market. Not everyone can afford premium products.
If your target market is more of a middle-class group, make sure the price of the product is affordable for them.
Don't be shocked if the price is expensive, but no one can afford it.
You can also create different product categories for various segments — for example, a basic version for the middle class, and a premium version for the high-income group.
To understand the purchasing power of your target market, you can look at factors such as the average income in the area, lifestyle, and spending patterns.
By understanding this purchasing power, you can set appropriate prices and avoid situations where your product is considered too expensive or too cheap.
This also helps you to plan the right promotions or discounts, so that you can attract the attention of various types of customers.