Guide to Identifying and Analyzing Your Target Market

Understanding your target market is a crucial step in building a successful business, especially in affordable housing, construction tech, or sustainable solutions. This guide walks you through how to define and analyze your ideal customer group.

1. What is a Target Market?

A target market is a specific group of people or organizations most likely to benefit from your product or service — and willing to pay for it.

Affordable Housing Examples:

• Students
• Low-income families
• Seniors
• Migrant workers
• People experiencing homelessness

2. Steps to Identify Your Target Market

Step 1: Market Segmentation

Break down the broad market into smaller, more manageable segments based on:

• Demographics (age, income, education, family status)
• Geographics (regions, neighborhoods, cities)
• Behavioral traits (buying habits, lifestyle)
• Psychographics (values, beliefs, opinions)

Step 2: Target Selection

Choose the segments that:

• Have a real problem
• Can and will pay for your solution
• Are open to innovation
• Face low competition

Step 3: Customer Needs Analysis

Ask:

• What do they care about most? (cost, comfort, sustainability, style)
• Have they tried similar solutions before?
• What are their pain points?

3. How to Collect Market Data

• Interview potential users
• Run online surveys
• Use public databases (e.g., U.S. Census, HUD)
• Review industry research reports
• Analyze social media comments and forums

4. Recommended Tools

5. Final Tips

By understanding your target market, you can:

• Build better products
• Craft more effective marketing
• Lower your business risk
• Impress investors with real-world data