Week 2: Target Market
Start with the pitch
Market Description – Tell me about your customers, focus on demographics that will allow you to isolate the best customers for your products or services. Multiple criteria are anticipated.
Market Size and Trends – Based on the demographics you have identified, how large is the potential customer base in your geographic area. Identify data sources.
Target Customers – Whom are you going after first and by what marketing methods?
Market Readiness – you for it, it for you – Is your product or service something that is already accepted by your target market or will you have to convince customers to use your products?
Strategic Opportunities – Based on your research, how did you settle on this particular target market. Are there “low hanging fruit” that you can make money from right away, is it a target market that is ready and waiting or will it take time to develop.
Apply content from these EBMS courses: ELP, MPD