Changing your target audience-Study One-Topic 5

Changing your target audience

• Why does the consultant in this video suggest that sometimes it's a good idea to change your target audience?
• How can you change your target audience?
• If you did change your target audience, how would this affect the marketing mix?

It is a good idea to change your target audience when you are looking to leverage or grow your business to make more money or expand your products or services to a larger target market, if you can not do so with your current target market.  

You can do this by asking yourself what are your new goals? What is driving you to want to make a change? And how will you go about implementing these changes? Also is your current market able to fit into these new goals. If not then it is time to look at changing your target audience.You can start making changes by marketing in a different way, with a different message in different places. 

Ask yourself 3 questions,what can you upgrade? Your products & services,your message and target audience. If you can answer yes to all three then it's time to change you target audience. Implementing the above changes would mean that your current marketing mix will need an over haul and changes would have to be made to tie in with your new vision & goals. This will mean starting a new marketing plan from scratch or modifying your current one. At the end of the day you just simply need to research your new target market, decided on what new products and services you want to provided and where you want to place them in the new market.