The first two steps will give you general characteristics to look for in your target market. You can further refine this by examining demographics. Are men or women more likely to be interested in your service? How about people within different age ranges, locations, education levels, marital statuses, or ethnic backgrounds?
The more specific you get, the better. If you sell children’s toys, you may want to focus on married women in their 20s or 30s, those consumers most likely to have children and those focused on buying for them.
It is possible to target too closely, however. Once you’ve settled on your target, consider how many people it’s likely to include. If it’s too many, narrow it down a bit more. If too few, remove some of the limiting factors. In the end, you should have a niche target defined that represents people most likely to buy your product or service with the resources to do so.
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