Market Research
Customer Profiling and Research
Understanding your customer is essential to keeping your customer. It's also essential to finding new customers.
Customer Profiling
Who are your current customers? What are they looking for from your business? Are they mostly male or female? What age groups are they? The answers to questions like these can lead to some surprising insights into your business and your opportunities.
Where can you find your customers? What media do they use? Are they big TV watchers? When? What radio station do they have on in their car? Do they read the newspaper or rely on the internet? How do you reach them?
Market Research
Who else is targeting your customer? Where do you rank in comparison? What is your competition spending and where are they spending it? What are your industry standards for advertising choices and expenses?
More Tools for You
Branding
Branding is simply making sure that your customers are aware of your product enough to ask for it by name. Sounds easy, doesn't it? It takes some skill though...
Merchandising
Once you have a product that people will be looking for on the shelves, you need to merchandise it to make sure that they can recognize it, understand it, and find it.
