The Big 5 Marketing Questions
If you’re reading this, chances are you’re looking to find your niche market. But where do you begin?
In this post, we’ll cover the most important marketing questions that you must answer. By the end, you’ll have everything you need to start your outreach.
Who is your target audience?
Your target audience is the group of people who are most likely to buy your product or service.
To identify your target audience, you need to think about who your product or service is for and what needs it addresses.
It’s also important to consider factors like age, gender, location, interests, and income level. Try conducting market research, talking to your existing customers, and using demographic data to narrow down your options.
Once you know who your target audience is, you can start thinking about how to reach them with your marketing messages.
What needs does your product or service address?
Your product or service should address a specific need that your target audience has.
For example, if you sell products for parents of young children, your product should address the need for affordable, child-friendly products.
By addressing a specific need, you’ll be able to better target your marketing messages and reach your target audience.
Common questions to ask to find your target market’s needs:
What are the biggest pain points?
What is your target audience’s ideal solution?
What are your unique selling points?
Your unique selling points are the things that make your product or service stand out from the competition.
For example, if you’re selling products for parents of young children, your unique selling points could be your low prices, your wide selection of products, or your convenient online shopping experience.
By highlighting your unique selling points, you’ll be able to attract more customers and stand out from the competition.
Common marketing questions to help identify your unique selling points:
1. What are the biggest concerns or objections of your target audience?
2. What unique insight do you about the problem that others don’t have?
What is your pricing strategy?
Your pricing strategy should be based on your target audience, your unique selling points, and the needs your product or service addresses.
For example, if you’re selling products for parents of young children, you may want to price your products lower than the competition to attract more customers. Or, if you’re selling a unique product, you may want to price it higher to reflect its uniqueness.
By carefully considering your pricing strategy, you can ensure that you’re attracting the right customers and making a profit.
Common marketing questions to find your pricing strategy:
1. What are you actually selling? More time? Less work? More Money?
2. What brings your market the most amount of value?
What is your distribution strategy?
Your distribution strategy is how you get your product or service into the hands of your target audience.
Try assessing the competition and understanding what distribution channels they are using
Also, identifying the resources and capabilities of the company and determining which channels would be most feasible for the company to use
Develop a distribution strategy that is aligned with the overall marketing strategy for your product
For example, if you’re selling products online, you’ll need to have a distribution strategy that includes shipping and handling.
Common marketing questions to find your distribution strategy:
What channels will you use to distribute your product?
1. How will you determine which distribution channels are most effective for your product?
2. How will you ensure that your product is available when and where your customers want it?
Commonly Asked Questions
What if I don’t have the answers to these marketing questions?
If you don’t have the answers to these marketing questions, start talking to individuals that have the problem you are trying to solve. Find out their problem and ask these questions to validate if there is actually a need for you to solve.
How do I know if I have the right answer to these marketing questions?
There is only one way to find out…put your solution in front of your market. The market will always decide.