How Do I Define My Market?

Your market is who you want to reach. Your customer. Who is your average customer? What is your estimate of total market size? What territory do you intend to serve? Will you offer a variety of products or services?

The more specific you are, the better definition of your customer (what their characteristics are), the easier it will be to more clearly define your market.

Many times you can obtain your Unique Selling Position (USP) from your customer. You need a USP to stand out from your competition. It is specific to you and your business. It is yours and yours alone. Your way of doing business.

How you define your market will also make a difference on how and what you use to reach that market. Will you direct mail, cold call, do walk ins, use the web, employ radio/television and/or print advertising?

In lease purchasing you define your market based upon the strategies you employ. For example, with consulting your market is a lot broader and wider, than it would be if you are using the co-operative strategy exclusively in a well defined surrounding area of where you live.

Again, with lease purchasing, what you do to reach your market will depend on what strategy you are using. You would advertise in your local papers that you can help buyers and sellers with the lease purchase advantage. Whereas, for consulting you want to reach a wider market, so you might take out an ad in a national paper or advertise on the web, or use e-mailing as a marketing strategy. For example, when I need to send out emails for consulting, I open Group Mail, pull up my consulting group email, put in the email addresses I collected for the day and press send. If you want to see if this program will work for you, check out:
www.homebusinesssolutions.com/groupma il/gm1.html

Now that you've got the idea, start defining your market. Once you do, you'll find that your business is easier to operate and more profitable.

Copyright DeFiore Enterprises 2000

Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 19 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our "how to" Home Business Solutions Digest, it's like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com

In The News:

pen paper and inkwell


cat break through


Mobile Marketing a New Age Strategy

More and more companies seem to be looking for new... Read More

Plant a Seed and Watch Your Business Grow

Do you have all the business you could possibly want... Read More

Wealth Knowledge & Power ? Lost Secrets From Ancient Masters

Behold! He with the light cometh!He shall light thy darkest... Read More

Use The Neglected Weapons In Your Marketing Arsenal

Business marketers have a lot of weapons in their arsenals... Read More

Low-Cost Marketing With Postcards

Here's a simple way you can generate lots of sales... Read More

The Marketing Plan and the Four P?s

The Marketing Plan section of the business plan demonstrates how... Read More

How to Turn Your Marketing Into a Money-Making Machine - Setting The Stage For Successful Marketing

Powerful Marketing has become elusive to many companies seeking strong... Read More

Why You Buy, Part Two

More of the findings of the recent studies in behavioral... Read More

Budget Your Branding

It is very important to regularly monitor your advertising activities... Read More

How to Tie a Tie and How To Kiss - What Do They Have In Common?

How to Tie a Tie and How To Kiss -... Read More

Planning Your Postcard Marketing Campaign

Before you create your postcard, do a little planning. Ask... Read More

Focusing Your Marketing Efforts

One of my favorite quotes is often used to describe... Read More

How to Brief a Marketing Agency

A new client recently emailed us a brief here at... Read More

What Your Customers Want

Your customers don't know what they want. And to assume... Read More

Tracking Your Way to the Top!

I often wonder how people without a plan know where... Read More

A Perfect Partnership for Business

Too often we small business owners get caught up in... Read More

Marketing Miracles - Do They Just Happen?

A simple answer to that is: Yes, Marketing Miracles happen!... Read More

High Response Marketing With Low-Cost Postcards

Postcards can drive a huge amount of traffic to your... Read More

Whats Your Marketing Attitude?

Entrepreneurs pay a lot of attention to the mechanics of... Read More

Benefits of Developing & Maintaining a Database

A database is more than a simple list of names... Read More

Budget Marketing: Managing Your Marketing Money Wisely!

There's a saying that half of all marketing efforts are... Read More

Discount Promotional Items ? How to Save Money

It takes money to make money is an adage we... Read More

Limited Time Only (Shh! Its A Secret)

Under normal circumstances, you'd shout it from the rooftops. After... Read More

Itchin For Some Nichin

The whole idea of Niche Marketing is exciting! The possibilities... Read More

Self-Promotion on a Zero Budget

Recently, I've received a few e-mails from people asking me... Read More

Want To Impress Customers, Win Clients and Influence People?

Remember the baseball cards kids traded while... Read More

Marketing Planning Made Simple - Another Small Business Power Tool

Marketing planning must be really difficult and complex, otherwise why... Read More

To Be Successful Sell to Wants not Needs

My mother used to tell me, tongue in cheek, that... Read More

The Marketing Recipe: Money, Marketing and Me ? 3 Keys For Success

You have a great product or service? Now, how should... Read More

Creating a Marketing Plan for Your Website

Have you created a marketing plan for your Website? If... Read More

Service Marketers; How?s Your Packaging?

When a shopper picks up a product in a store,... Read More

Non Products Exist in this World

"Both the market and the distributive channel are often more... Read More

How To Recognize Your Niche Marketing Agenda

Starting a business, whether it's retail products or services, must... Read More