The first step in understanding your target market is to identify who they are. This involves demographic information such as age, gender, location, income level, education, and occupation. It also includes psychographic factors like values, attitudes, lifestyles, and interests. The more you know about your target audience, the better you can tailor your marketing efforts.

Analyzing your competitors is an integral part of market research. By understanding who your competitors are, their strengths and weaknesses, and how they position themselves in the market, you can identify opportunities to differentiate your business and offer something unique to your target audience.

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