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Market Research Tools - BUSN 1510: Identify Target Markets

Learn how to conduct market research using the Hennepin Tech Library and other internet tools.

Target Market Considerations

Identifying Target Markets

Consider the following:

  • Who is your ideal customer?
    • Demographics
    • Geographic Location
    • Profile
    • How their needs are or are not being met.
  • Narrowing your cusomter focus to a manageable size
    • Don't try to appeal to too many target markets
  • Can you find data about the annual purchases (or how much money per year) your target market spends in your industry?
  • What is the forecasted market growth for this customer base? 
    • Are they forecasted to spend more or less in your industry? 
    • Is the customer base forecasted to grow or shrink in your targeted geographic area?

Online Books for Identifying Target Markets

The HTC Library has several online books that contains consumer demographics, as well as spending habits to help you identify your potential customers.

If you are accessing these books from off-campus, you will need to login with your StarID and password when prompted.