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Your Market

Your business is unlikely to have the whole population as its customers. The market can be broken down into ‘bite-sized’ chunks representing groups of people most likely to become your customers.

You can break down (segment) markets in lots of different ways.

  • Age/gender
  • Distance/time away from your business
  • Income/Occupation
  • Benefits sought
  • Family life cycle

You can use as many of these segmentation tools as you like. The more you use, the more tightly defined will be your target market. Your market will become smaller each time you introduce another segmentation criterion. More details are included in the download on the right.

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