Developing Your Business
IN THIS LESSON
Find out everything you can about your potential customers so you can define exactly who it is that your business is aimed at.
This will help you serve them better.
Who Are You Selling To?
Your product will not appeal to everyone. It will have a target market. Find out everything you can about your potential customers so you can define exactly who it is that your business is aimed at. This will help you serve them better.
Separate Your Customers
Group your customers according to what makes them similar, like age, gender and spending habits. This will help you refine services you want to offer.
Meet Your Customers Needs
Market segmentation is about finding out what your customer groups want and then using that information to provide products and services they need. If you want to open a salon, you’ll have customers who will want braids, cornrows, relaxed hair, dreadlocks and so on.
Important Things to Remember
Test your products to know what works and what doesn’t.
Prices shouldn’t be too expensive or too cheap.
Group your customers according to their similarities and differences.
A great team is one that is supportive, hard working, reliable and trustworthy.