What Is A Target Market?

In today's conditions where competition is intense, for companies to make sales to be successful is evitable. However, in order to be successful in local and international markets where the number of customers is limited, and the number of products and companies is almost endless, and also to gain profit in this intense competition; it is crucial to work with a focus on the products and marketing, to do market research and to know the target markets determined as a result.

The target market is the potential customers with whom the manufacturers and sellers can exhibit and sell their products and create partnerships. In other words, the Target Market is your customers located in a specific country, city, sector, platform, etc. which you focus on your products or services to find buyers. To make a profit and start a business that will continue for many years, specifically producing and selling for the customers, is necessary according to their needs and demands. Or heading towards markets where you believe your products are needed, are a solution to a problem, will ensure that you are known and searched for in your product category.

For example, NIKE targets aspiring young athletes and runners who rely on motivation to push themselves beyond their normal limits. Although not every person who prefers NIKE is a true athlete, the motivation given makes the NIKE brand preferred in the world.

To effectively create your market strategy, you should know where your target market is, what your customers expect, and what they demand. Indeed, providing good quality and stable products honestly and ethically by meeting customers' demands will lead to long-term partnerships, collaborations, and sales.

Today, to be able to sell in your own country, you can make the consumers come to you by giving sponsored advertisements to make your potential customers notice and see you and your products through social media without going door to door, on the other hand, if your target is foreign markets, this process should structure a little differently.

For Overseas Markets, in my experience, all sales arguments about the product must be completed first. So what are they? The main ones are product classification (GTIP No), product promotion catalogs, product photos, product features (technical information, certificates, contents, analyses, etc.), price lists (prepared based on INCOTERMS transportation rules).
Afterward, for your company which will start exporting soon, you will need to research foreign target markets based on the demographic and physical environment, political environment, economic factors, social and cultural environment, market-entry, and product potential. Of course, there are various methods for this Target Market research, but it is best to start exporting with the awareness that this process is long and requires patience and follow-up.

We, within our company, provide full support to our manufacturers during this preparation process by organizing meetings with them. Firstly, the production and sales performances of the manufacturers should be evaluated with their capacity and stock status. As a result of patient and focused work, it's sure that you will get the orders. But it is unexpected at the beginning of the process how many orders will be given from which country, so working beyond the capacity of the manufacturer will cause both loss of time and loss of reputation and trust in the face of potential buyers abroad.
The first steps that should be done for companies as a preparation process are as below: In which countries we should look for customers, economic and demographic analyses of the targeted countries and their import data, determination of the necessary documents and permits for export companies, research and reporting of large buyers and competitors in those countries, determination of foreign fairs where participation will be advantageous.

After establishing an export strategy in line with the reports prepared, the communication should be built by working hard to bring together domestic suppliers and buyers abroad, realize sales, and establish long-term cooperation.

I hope that the countries and the companies increase the export capacity needed for their growth, progress, and strengthening of their competitive power. Whether they are producers, sellers, or consultants, everyone should proceed always with the excitement and enthusiasm of the first day without losing any motivation that requires patience, and follow-up.