What is a Market Profile? Understanding Your Target Market
A market profile is a set of characteristics relating to the target population or a target group of purchasers in business. Usually, such characteristics include demographic variables like income, a geographical location like region, or psychographic factors like values. Creating a Market Profile A market segment is a group of individuals whose requirements match an institution's service or product, and to whom the goods or services are subsequently advertised. Identifying your target market profile is among the most important responsibilities a marketer has to perform. It is the basis among all elements of your marketing technique, by how you create or name your services and products right down to the marketing channels you are using to advertise them. The better you know your target market, the best you can target them (of relevant content, texting and advertisements). As your insight into your audience deepens, you'll begin to see increased conversion rates ...