Stage One: Consumer and Market Analysis

Considering Your Customer

This is the research segment of the process as you carefully consider your customer and what they need. You have to be honest with yourself and look at their needs in direct contrast to what you may think of as your ideal customer. People don’t all have the same needs and wants. Your goal is to identify groups of people (called segments) who have related or similar needs so your marketing dollars can be directly pointed at them. There are several questions to ask yourself:

  • What do they need?
  • Who is buying our product? Who is using our product?
  • What is the buying process?
  • How can I leverage segmentation?

You should have the answers to most of these questions by now, but a bit more research will help you ensure that you really are targeting the right market in the right way.