Who is your customer?
Successful businesses have extensive knowledge of their customers and their competitors.
Market research is the process of gathering information that will make you more aware of how potential customers will react to your current or potential products and services.
Finding out who your customer is.
Before you begin selling something, you need to know who you are selling to. When developing a general profile of your customers, you might want to define them by their demographic characteristics, such as:
- Age, usually given in a range (20-35 years)
- Marital status
- Location of household
- Family size and description
- Income, especially disposable income (money available to spend)
- Education level, usually to last level completed
- Interests, purchasing profile
Once you have defined your target customers, you must learn about their needs and preferences.
- What challenges do they have that could be solved with your product or service?
- What are their needs and expectations regarding this product or service?
- What types of things do they desire?
- What do they spend their money on?
- Where do they shop?
- How do they make spending decisions?
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