Week 5B - Defining Your Target Market

Who is my target market? I think this is one of the hardest questions. I know that defining my target market is the first step to the success, but so many businesses fail to do it. Therefore, if I want to have a successful Mexican jewelry business this is a mandatory task. Back in Hungary in my friend’s store I was a prime customer. And if/when I open my Mexican jewelry store here, I would love to sell items which I would wear too. I guess then I need to target people like me.

My ideal customer is a woman. I know there are many men who wear jewelry but I do not have a good feel for their style yet so I would start with only focusing on women. She is in her 30’s or 40’s. She lives in an urban area and is well educated. She is in the middle or upper middle class. Most likely she is single, but if married she doesn’t have children or has older children.

To identify my ideal customer better, I had to dig a little deeper. What are the special interests she has that makes her the ideal client? Music came to my mind first. I think for the jewelry I would like to sell, she needs to be open to different styles of music. Classical music is one. Classical music is elegant and timeless like the jewelry I would like to sell. Jazz is another one – it is unique and can be extravagant. These are also the qualities of some of the jewelry in my dream shop. People who go to many classical or jazz concerts dress up for the occasion, and what can be dressier than the perfect jewelry that matches the occasion?

Another interest which can identify my ideal target is the love for travel. I believe people who love traveling and have seen many parts of the world are more open-minded and are more likely to wear jewelry which has a unique character. It is even better if her favorite places are France, Italy, or Spain, where fashion is everywhere around the traveler.

Last but not least, my ideal customer is in sales or management, or she is the owner of her own company. She takes business trips and goes to conferences. She is closing deals and giving lectures in prestigious conferences. She needs to look elegant and has to present her business well. With the help of an exclusive and elegant piece of jewelry she always stands out from the crowd.

So, she would be my ideal customer! If you know her, please let me know or refer her to my upcoming business and social media site ;)