So, how much do you know
about your market?
The more you know before
you commit yourself totally, the better are your chances of success.
Try these for size:
people want or need your product? How do you know?
You need to find out what
alternatives people are currently buying. Also how many, and how
often do they buy?
many people want your product? How do you know?
Find out how many potential customers
you might have. Ask your suppliers, ask people who already use the
product or service, ask your competitors.
the type(s) of people who would be likely to buy your product
This helps develop your customer
profile. The more you know about your customers, the better you can
satisfy their needs.
much will they pay for it? How do you know?
Check out your competition again. Ask
people what they would pay.
frequently will they buy from you? How do you know?
Repeat business is good business.
Regular customers are the best customers.
will they find out about you?
As you find out about your customers,
start thinking about how you will promote your business to them.
you conducted a survey (questionnaire)? What does it show?
You need to survey at least 50
potential customers. Design your questions carefully.
you tested the market by trying to sell some of your products
/ services? What happened?
This might be called the "Suck it and
is the competition? Who are they? Where are they? How many of
them are there?
Find out as much as you can about
does your business compare to the competition?
Check out the Competitor Analysis
Chart on page 4
downloadable full version (link below).
will you locate your business? Why?
What is best for you
and your customers?
Have you done a SWOT Analysis for yourself and for your business?
If not, you can download the full version of this document in
PDF format to use as a guide. Pay special attention to the
strategies you intend to use to either take advantage of your
strengths and opportunities, or compensate for weaknesses and
Click here to download (Marketing_Getting started.pdf 85K)