Customer Targeting
Customer targeting, target audience identification, heavy user analysis, market concentration… Whatever you choose to call it, it’s all about leverage. The more you know about your target the more you can leverage your product benefits as a competitive advantage.
Everyone has a target customer, but they can take on many different forms depending on your business.
- For start-ups, your target customer might be an investor group that can supply a much needed infusion of capital.
- For established companies, your target customer might be a decision-making researcher in your core industry.
- For drug developers, it might be a big pharmaceutical company that you would like to eventually license your technology or acquire your company.
- For medical device companies, your core target will likely be the doctors and administrators that see added value in your equipment.
Consider This: A common error is to assume that your target customer is a rational person who thinks just like you. Chances are that they’re not! Accurate customer targeting is one of the most important things you can do to position your company for success.
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