Target Market Analysis Worksheets
One of the most important elements to the success of your business is understanding your target market. You need to know them
better than they know themselves. Predict trends and changing tastes and habits. This information will allow you to focus your
communication and advertising strategy to the people who are more likely to buy from you. These worksheets will help you
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Define your customer
Describe benefits
Determine the demographics
Segment the target market
Target market behavior
Problems/Solutions
Define my Customers
An important part of your target market analysis is defining your customer. Think carefully about your product or service. Exactly
who would want to purchase it? How old is this person? What is her marital status? Where does she live? What other products does
she buy? Where does she go on vacation? The questions below will help you get started in defining your customer.
Customer Focus
Description
General
Define my customer clearly:
o Who are they?
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Where and when do they want to buy?
Are they new customers, existing customers, or a
balanced mix of both?
Understand what emotional elements make
customers buy:
o What personality should my company have?
o How should customers feel about my
product?
Customer Focus
Description
Understand what functional elements make
customers buy:
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What features do they want and need?
o What information do they need to see in
order to make their decision?
Product Attraction
What will attract customers to my store and/or
website?
What's my special brilliance that sets me apart in
the marketplace?
How will I reflect this brilliance throughout all my
marketing efforts?
Customer Focus
Description
Most Effective Methods
What's the most effective thing I can do to attract
customers?
What's the most effective thing I can do to retain
customers?
Which of the Five P's (product, price, placement,
promotion, people) is the most important in
attracting and retaining customers?
Controlling Points of Contact
What are all the ways I can reach and influence my
customers?
What's the best way and best mix of these ways?
Customer Focus
Description
What marketing efforts should I focus on the most?
How can I improve on these points of contact with
my customers?
Action Items
What marketing efforts do I need to work on?
How can I maximize the effectiveness of my
marketing program?
Benefits
What are some of the benefits of your product/service? How will you convey these benefits to your target market? List some of the benefits
your product/service offers below.
Product/Service
Benefits
Demographics
The following worksheet will help you learn everything there is to know about your target market. You will breakdown your target
market characteristics by demographic, geographic, behavioral and psychographic segments.
Demographic Segmentation1
Demographic segmentation consists of dividing your target market into measurable statistical groups. Some examples include:
Demographic
Analysis
Age
Gender
Family size
Income
Occupation
Education
Social class
Ethnicity
Home owner?
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Resources: city-data.com and zipskinny.com
Geographic Segmentation2
Geographic segmentation divides your target market into geographic units such as:
Demographic
Analysis
Country
City
Zip Code
Town size
Population density
(rural or urban)
Climate
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Resources: city-data.com and zipskinny.com
Behavioral Segmentation3
Behavioral segmentation divides your target market by the way they respond to, use or know of a product. Some important
variables to measure are:
Demographic
Analysis
Usage rate
Loyalty
User status
(potential, first
time, repeat)
Readiness to buy
Purchase occasions
(holidays,
birthdays, sales)
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Resources: Census, USA.gov, Fedstats.gov
Psychographic Segmentation
Psychographic segmentation divides your target market into certain groups according to their lifestyles. This type of segmentation
considers a number of potential influences on buying behavior:
Demographic
Activities
Interest
Opinions
Attitudes
Values
Analysis
Market Segmentation
In addition to knowing the demographics of your target market, you will also need to segment the target market to further isolate
the segment of the population you want to focus on. In the worksheet below, segment your target market and describe how you
will reach and market to each segment.
Target Segment Description #1:
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Best way to reach segment:
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Segment Trends
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Marketing Strategy
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Market Segmentation #2
Target Segment Description #2:
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Best way to reach segment:
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Segment Trends
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Marketing Strategy
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Market Segmentation #3
Target Segment Description #3:
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Best way to reach segment:
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Segment Trends
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Marketing Strategy
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Target Market Behavior
Target market analysis also involves becoming familiar with how your target market behaves. This will help you spot not only trends,
but most important, opportunities for you to clearly define your targeted message.
Behavior—Purchase Rates/Buying Habits
Average number of purchases per customer
Average industry: $ per consumer purchase
Average industry: number of items
purchased per customer
$ market share
Problems/Solutions
Your business will be much more successful if you can show your target market how you can solve their problems. Identify your
target market’s frustrations and position your company or product as the solution.
Problem
How your product/service is the solution