For any business the number of people buying products and availing services vary. Due to this, it is essential to know who is the ideal customer and what is the most vital factor in selling a product. Understanding about which customers are coming under the category who benefits from the service will improve profits of the company. Companies selling products and services to the potential target will have more advantage over companies that don’t give attention.
The first step in international marketing management is the identification of the potential target market of customers likely to but products. The customers is spread across different demographics and geographies which need to be studied in detail before starting marketing.
By looking at what people share over social media the demographic information regarding product choices can be found out. Demographic information includes age, gender, income-related facts. It is also good to know about professional information related to jobs as the income level also influence the buying decision.
Next comes the lifestyle patterns which is also having the significant influence on the buying behavior. several analytical tools in social media and website visit patterns can tell which products people are interested in and this data can be utilized for marketing products. The number of people participating in certain activities both online and offline can give an idea about the group of people interested in the product.
The number of times a user uses the product is also important as how frequent the behavior occurs. For FMCG products this information is critical because the buying behavior change can affect sales to a considerable amount.
Related Links: Strategic Project Management Diploma Courses | ACCA | Strategic HR Managment Diploma courses online
