QUESTION: In past articles, you have made reference to target marketing. Exactly what is target marketing, and how does one go about developing the strategy?
ANSWER: Target marketing is defined as researching and understanding your prospective customers’ interests, hobbies and needs so that you can focus your message on a specific segment of the market that is most likely to purchase your product or service.
This strategy is particularly effective when combined with “niche marketing,” which is a subset of a larger market, and is identified by a unique set of needs or preferences. An example could be a shoe store that specializes in running and speed walking shoes.
In developing a target market strategy, you could consider the following:
Gray Poehler
Define your target customer:
- “My ideal customer is a white-collar, college-educated person who is between the ages of 30 and 50, into physical fitness, with above-average income.”
Locate your target customer:
- “My ideal customer owns their home in a medium-priced neighborhood or ZIP code, and belongs to a local gym or club fitness center.”
What are their buying habits?:
- “My ideal customer wants a quality running shoe and will buy several pairs each year. Our shoe brands are regarded as the best in the industry and will not disappoint our clients, thus ensuring their continued patronage.”
Once you have profiled your target customer, you now need to determine the best way to reach out and become known to them.
You could begin with social media. Those individuals in the 30-to-50 age bracket are relatively tech-savvy. They will research the products online, and your social media presence is critical to success in driving them to your website.
If you intend to have a physical store presence, plan to locate in the area or ZIP code you are targeting. Consider placing store opening ads in local or regional publications serving the same areas.
There are a number of physical fitness publications. It is not uncommon to find them in the lobbies of health and country club wellness centers as well as physician’s offices.
Check around to determine if a particular magazine is more prevalent and, if your budget allows, place an ad in one that allows you to limit distribution to the localities you intend to target.
This is just an example of the strategy used in target marketing. Your local SCORE counselor can assist you in developing your marketing plan.
Richmond SCORE is offering a free webinar “Developing your Marketing Plan” May 15, 2024 at 7:00 PM.
To register log on to
Business openings and closings in Richmond area
Gearharts Fine Chocolates
Gearharts Fine Chocolates recently opened a new dessert cafe at 11331 W. Broad St.
Scenthound
Scenthound, a wellness-focused dog care center, opened in Short Pump at 10921 W. Broad St., Suite B.
Ruby
Ruby, located at 3030 W. Cary St., specializes in good quality, casual clothing, is closing in June after nine years in business. It is a sister shop to The Phoenix.
Yellow Umbrella Libbie Mill
Yellow Umbrella has opened a second location in Libbie Mill. It took over the space that was occupied by The Stables Market at 5001 Libbie Mill E. Blvd, Suite 135. The new spot offers most of the same provisions as the Patterson Avenue flagship, including prepared foods, grab-and-go lunch offerings, baked goods, pantry staples, charcuterie, wine and beer. It also has hot lunch offerings with house-made soups and made-to-order paninis. Read the story.
Odd Bird
Odd Bird, a new home goods shop, is now open in Jackson Ward at 320 Brook Road.
UGK@Hull
The Underground Kitchen has opened a boutique space featuring a curated selection of home entertaining items and foods such as rare wines, artisanal gourmet bites and vintage glassware. Check out its Instagram at @ugkhullstreet. 205 Hull St.
Amazon fulfillment center in Henrico
In Henrico County, Gov. Glenn Youngkin and Amazon officials cut a ribbon for Amazon’s new fulfillment center. Youngkin called it “the largest building I’ve ever seen in my life.”
The gigantic, 5-story building contains 2.7 million square feet of space — enough to fit 46 football fields.
At any given time, it stores about 20 million consumer items, such as diapers, books and batteries, ready to ship at a moment’s notice. Read the story.
Coca-Cola bottling plant in Henrico
Coca-Cola has spent $50 million to expand its manufacturing and warehouse facility in eastern Henrico County, as the Richmond market grows and demand for soda continues. Read the story.
Richmond’s new baseball stadium
Richmond’s planned baseball stadium is to include a beer garden, family zone and party area.
The Henrico Sports & Events Center
The Henrico Sports & Events Center, the county’s sprawling multipurpose building at the site of the former Virginia Center Commons mall, has opened to the public.
The 185,000-square-foot facility cost $50 million and can hold up to 4,500 guests in retractable seats. A flexible space, it has room for 12 basketball courts or 24 volleyball courts. It will host concerts, business events and more. Read the story.
Shades of Moss
Shades of Moss Plant + Design is a new plant, record and tea shop from Charlotte, North Carolina now open in Carytown at 2128 W. Cary St.
Padel Plant
The iconic Haxall hydroelectric plant located along the downtown Riverfront Canal Walk on the banks of the James River will soon be an indoor racket sports venue called the Padel Plant, complete with padel and pickleball courts as well as a food-and-beverage concept.
The venue will offer memberships with priority access, but also will be open to the public. It aims to open later this summer. Read the story.
Jean Theory
Jean Theory, a women’s clothing boutique at 5708 Patterson Ave. carries more than 70 styles of premium denim from top designers. Read the story.
Shenandoah Mansions
The Shenandoah building, located at 501 N. Allen Ave., is currently being renovated into a boutique hotel and will be the Fan’s first such hotel when it opens in the fall of 2024.
HomeGoods
HomeGoods has opened in the Willow Place shopping center at 5478 W. Broad St., across from Target and Barnes & Noble. Read the story.
Fink’s Flagship store at Short Pump
A rendering of Fink’s Jewelers’ planned flagship location. It’s expected to be finished this year at the corner of N. Gayton Road and W. Broad Street in Henrico. Read the story.
Painted Tree Boutiques
Painted Tree Boutiques, a home décor, gifts and boutique clothing store, is headed to the Westpark Shopping Center at 9819 W. Broad St. in western Henrico County. Read the story.
RVA Hot Wheelz
Identical twin sisters Dashia (left) and Destiny Oliver, 24, launched RVA Hot Wheelz which rents Slingshot vehicles at 3107 Old Hilliard Road in Henrico.
Read the story.
Bangers & Dinks
Bangers & Dinks, which gets its name from two pickleball terms, is an indoor pickleball court at 1516 Koger Center Blvd. in Chesterfield County.
Whistle Express car wash
Whistle Express Car Wash is now open in Powhatan at 1880 Stavemill Crossing Lane. Whistle Express purchased the 2-acre plot in 2021 for about $1 million. Near Route 60, the property is diagonal from Walmart.
In Hanover, a location is open at 7419 Pole Green Road. The parcel is a 2-acre plot bought by the chain that is adjacent to a Sheetz gas station and convenience store. Property records do not list a sale price.
The Midlothian Whistle Express is located at 10300 Midlothian Turnpike, an almost 1-acre plot bought by the company for $1.4 million in 2021 at the intersection of Midlothian Turnpike and Sturbridge Drive.
Popshelf
Popshelf is now open at the Shops at Stratford Hills at 7101 Forest Hill Ave.
Take a look at these restaurants that closed in the Richmond area.
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