Business Plan - Target Market/Customer Profiling

• Customer profiling is the process of gathering detailed and important information about customers. It contains complete factual information relating to the demographics, geographics, buying behavior, and all other related details.
• What is the name for this This technique which is likewise performed in creating the buying profiles of all existing customers, which will be used in targeting new prospects with matching profiles?

  Customer Profiling
• what is the term for this information which includes certain variables such as age, gender, race, and the civil status of a customer. This is the part of a customer’s profile that helps the business in anticipating the behavior of a customer?

  Demographic Information
• What term basically dwells on their location so that products and services can be better served in a particular area?

  Geographic Information
• What is the term for this type of information that pertains to the aspects of income, education, occupation, and household description of the target market?

  Socioeconomic Information
• What are the determinants of Socioeconomic Information?

  -income or salary

  -education background

  -occupation or profession
• This element refers to any source of income flow. In creating a target market profile, it is recommended to consider the average earnings of the customer. What is this?

  Income
• By assessing this certain background of the customer might give hints or hidden clues as to how a product should be offered to him or her. What is this?

  Education Background
• What's this information of customers that pertains to their behavior, characteristics, and anything that triggers their emotions?

  Psychographic Information
• Steps in Creating a Target Market Profile

  • Identify the scope of messaging.
  • Research on the target market.
  • Build a realistic persona.
  • Incorporate important characteristics.