To create a homogenous market that convert highly for a particular product you need to profile your target market. To do this you need to use one individual and identify their greatest need. Then you identify how your product satisfies this need. You then construct your sales proposition based on this need to attract individuals with similar needs.
You will end up attracting a homogenous market in the sense that they are very interested in what you sell and as such have a high convertion rate. This is the obsession with a homogenous market or more commonly a market segment. When assembled right it converts highly, more easily and more frequently.
It is true that if you took a homogenous market you have created by profiling, you would definitely come up with some similar demographic characteristics. Does this mean then that if your competitor went out and gathered a market based on those demographics, they would also arrive to a hot market like yours?
The answer is often an emphatic no. This infact is the premise of Target Audience. Target Audience which lends itself primarily to demographic characteristics is based on this deductive reasoning. That if a hot market for a widget has particular demographic characteristics then whenever you find those characteristics then it's a hot market for the same widget. This is akin to finding a hot converting market through the backdoor. We have noted that such market segmentation will rarely mimic the
results of one constructed directly using target profiling.
Target profiling is effective because it aligns with very fundamental principles of business. Top among them is that business is primarily an exchange of one valuable for another. And from a business standpoint it is important to understand that it is your prospect (market) that determines what's valuable; not you. A man will exchange his money for beans because he wants beans. The fact that peas are healthier; and that the man's neighbors and age-mates eat peas instead of beans notwithstanding, he came looking for beans and intends to leave with beans.
You may be able to get him to buy your peas but can you first, for crying out loud, get him the beans he wants. Then he may just be able listen to you peas pitch. In salesmanship this is called "Scratching the itch". In true Target Audience fashion, market strategies are designed to be not just aggressive but even coercive. It looks at the man; he comes from a pea eating community. So they overflow him with adverts and sales propositions to buy peas; never asking the all important question "What is he interested in?"
The reason that target audience fails in effective marketing and consequent convertion is that it assumes. Target profiling on the other hand first determines for sure, then provides the man with exactly what he wants. From here one can go on to suggest other additions or even alternatives.
Author Resource:-
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