It is important to conduct a customer analysis to find out who your customers will be and what they need, want and desire and then come up with a product or service at the right price and place and with the right service and quality to satisfy their needs.
RECIPE FOR SUCCESS INGREDIENT CARDS
Ingredient 2: Marketing
Why is it important to conduct a customer analysis?
Only after you have a good idea of who these people are, can you make sensible decisions as to how you can best satisfy their demands.
Do you know:
- Who are your potential or existing customers?
- Where are they?
- Why do they buy your products or service
- When do they buy them?
- How do they buy them? Through what channel?
- How much will they buy?
- How often will they buy?
- How can you communicate with them? What do they read or listen to?
- What are they influenced by?
- What are they prepared to pay?
- Do you know who your customers will be?
- Do you know their buying preferences?
- Are they young or middle-aged?
- Do you know their average incomes?
- Do they live in single-family dwellings or house boats?
- Are they male or female, children or adults?
- And if you don’t know, do you know how to find out?
This data provides a more than useful beginning position for you to consider your business as it lets you know what will be expected from your business, even before you start.
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