Page 8 - howtoidentifyyourtarget marketasastartup
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Whom are your competitors targeting?
Look at their advertisements, visit their website, join their email subscription lists…
You can attempt to go after the same target market or focus on a group your competition may be
overlooking.
Look at the graphic above as a reference.
Are you going to target a niche audience or sell products for the masses?
Will your brand have high quality products/services at a premium price, or are you planning to target
cost-sensitive consumers?
It will be easier to answer these questions after you research the competition.
Analysing your competition can help you increase profits even after your start-up launches.
Competitive analysis can also show you how consumers behave in this industry:
