Consumer Discovery

Welcome to your Consumer Discovery

Name

What is a target market?

A specific segment of consumers that possess common characteristics, behaviours, needs or interests. A company identifies their target market and develops their advertising, marketing, and brand image to attract their target market.

A random selection of individuals from the general population who are invited to provide feedback on a company's products. This feedback helps the company make decisions, but it doesn't define a specific group for marketing purposes.

A broad audience of consumers that a company hopes to sell its products to. It includes everyone who might ever be interested in the product, regardless of their individual characteristics or preferences.

What are three different types of consumers?

Need-based consumer, impulsive consumer, indecisive consumer.

Need-based consumer, discount consumer, spontaneous consumer.

Cost-conscious consumer, seasonal consumer, online consumer.

High-spending consumer, budget consumer, environmental consumer.

What are the benefits of a brand having a social media presence?

Increases website traffic by automatically generating sales for the brand, allowing them to immediately boost their revenue and reduce marketing costs.

Enables them to establish a direct link with suppliers, facilitating faster inventory management and supply chain operations, which ultimately leads to increased sales.

Provides a platform for brands to solely focus on their internal communications, ensuring that all team members are updated on company policies and procedures without engaging with the public.

Gives them an opportunity to grow their brand recognition, share news with others, showcase new products/services and interact with customers.