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This document outlines the target market determination (TMD) for Athena\'s Standard Variable Rate residential mortgage product, detailing the class of consumers for which the product was designed, as well as its distribution conditions and review requirements. It highlights that the product is no longer available for new applications as of 13 December 2022, while existing customers can continue to utilize it until full repayment or switch to a different loan.

How to fill out target market determination

How to fill out target market determination

1. Define your product or service offerings.
2. Conduct market research to identify potential customer segments.
3. Analyze demographic data such as age, gender, income, and location.
4. Identify psychographic factors including lifestyle, interests, and values.
5. Evaluate competitors and their target markets.
6. Create customer personas to represent different segments.
7. Determine the size and accessibility of each target market segment.
8. Prioritize segments based on potential profitability and alignment with your offerings.
9. Test your assumptions by gathering feedback from your target audience.

Who needs target market determination?

1. Entrepreneurs and small business owners looking to define their market.
2. Marketing professionals aiming to optimize campaigns.
3. Product developers seeking to tailor offerings to specific groups.
4. Investors assessing business viability and market potential.
5. Consultants helping businesses identify growth opportunities.

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What is target market determination?

Target market determination is the process of identifying and defining the specific group of consumers that a product or service is intended for, ensuring that marketing efforts are focused on the right audience.

Who is required to file target market determination?

Entities that offer financial products or services, particularly those regulated by financial authorities, are typically required to file a target market determination to ensure compliance with relevant laws and regulations.

How to fill out target market determination?

To fill out a target market determination, one must provide detailed information about the product, identify key characteristics of the target market, justify the selection of this market, and ensure that all regulatory requirements are met.

What is the purpose of target market determination?

The purpose of target market determination is to ensure that products and services are suited to the needs of the consumer segment they are marketed to, ultimately enhancing customer satisfaction and compliance with marketing regulations.

What information must be reported on target market determination?

The information that must be reported typically includes product details, intended consumer characteristics, risk assessment, and any assumptions made during the determination process.