Define Your Market Segment
Understanding your customer is crucial. Knowing what they want will tell you what business you are really in.
Your customer gets the delivery of your product or service however, what they are really buying is what they THINK it is going to do FOR them. As it applies to your product or service, answer these three questions:
Who is buying?
Define the profile of your customer by the following criteria:
- Geographic: where are they located?
- Profile: demographics (age, sex, occupation etc.)
- Lifestyle, patterns & preferences
- Personality: Psychographics etc.
What do they buy?
- Features
- Pricing
- Delivery
- Packaging/Image
Why do they buy?
- Benefits
- Traits
- Perceived Value
- Packaging/Image