Entrepreneurship--Lesson 4-1 Slides

Age

Gender

Shoe size

The last thing you ate

Location

It helps businesses connect with customers and grow.

It only increases the cost of products.

It is mainly about advertising.

It is not necessary for small businesses.

Identify what will satisfy the customers’ needs and wants

Develop and market products or services that customers consider better than other choices

Operate profitably

Focus only on the product without considering customer needs

It includes individuals or companies interested in a product or service.

Target customers are those you most want to attract.

It refers to the blending of product, price, distribution, and promotion.

Identifying your target market helps you reach the people you want to sell to.

Survey

Data found in already published sources

Competitor analysis reports

Historical sales records

Planning

Manufacturing

Pricing

Promoting