Directions: Select a product or service to sell.
Now determine the target market for your product or service by answering the following questions in a table:
Are your target customers male or female?
How old are they?
Where do they live? Is geography a limiting factor for any reason?
What do they do for a living?
How much money do they make? This is important if you are selling expensive or luxury items.
What other aspects of their lives matter? For example, do they need to be homeowners?

Now, identify your product or service and explain what your target market is and why.

1. I intend to sell the luxury car brand, Lamborghini.

2. My main target customers are males.

3. The age range of my target customers is 25 - 45.

4. They live in the cities and urban areas. Geography is a limiting factor because the larger percentage of the males who will patronize the brand have occupations in the cities.

5. They are most likely in the entertainment industry. They could also be top directors in the professional fields.

6. They make $50,000 and above monthly.

7. They are interested in glamor, have high tastes, and associate with the elites in society. They would be financially strong and should have established assets like homes where such expensive cars can be parked.

Explanation:

I intend to sell a luxurious car brand to a target market consisting mostly of males. Most males in the entertainment industry love expensive car brands and are most times competing with themselves on who has the better and latest car. Their age range is 25 to 45-year-old for this group are still in their prime where flashy and expensive things still appeal to them. They would likely reside in the cities where there are good roads for these vehicles and where they can relate with others in the same class.

Identification of a target market is important for it helps the seller to remain focused and not to hit amiss. Time and energy will be thus saved.

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