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Chapter 4: Action Step 4

Chapter 4: Action Step 4

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Chapter 4: Action Step 4

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  1. Chapter 4: Action Step 4 Analyze Your Market: Who will want your product or service?

  2. Research Your Potential Market • Industry trade groups • Library • Business publications • Small Business Development Centers • Company promotional materials • Websites • Interview industry experts • Interview customers and potential customers

  3. Define Your Market as Narrowly as Possible • By geography • By demographics: age, gender, or ethnicity • By purchasing patterns such as seasons, shopping times, or events that trigger purchase

  4. Test Before You Launch • Trial sales calls • Put samples in stores • Interview potential consumers • Interview consumers who used your test products • Keep tabs on competitors…always