One mistake most businesses or marketers make is looking for that “wow” factor in the business to market.
The question on the mind of every marketer or Entrepreneur should be “What do customers value about my company or business?” Once you have been able to discover this, that is what you should market. My question to you is, can you find it?
Market research, particularly Customer Analysis, is that tool for discovering what it is about your business that your customers will value and why they chose you over your competition.
Having a product that is relatively cheap, affordable to all, with excellent marketing campaigns and strategies will amount to nothing if it is not the right product required by the customers.
Therefore, the customer analysis tool is that tool that helps you understand and know your customers better.
It reveals 3 important information basically :
– It Identifies the target customer.
– It helps you understand the customer’s need.
– It helps you know how your product is meeting the needs or wants of the customer.
The Customer Analysis tool can not and should not be ignored because it is a critical component of every marketing campaign. Once you’ve been able to analyse your customers, you define your target market, then you can decide how you want to reach them.
Let’s keep building!
About the Contributor:
Conqueror Conqueror is a Business Strategist, Coach and Trainer with several years of experience in Entrepreneurship. He majors in Marketing & Sales consultancy. He is the Founder/Team Lead of EconNect Africa, an Entrepreneurship education & training, business advisory & research firm and host of the annual event “The Entrepreneur Conference”. As a Business Speaker, he brings a different flair to the Entrepreneurial/Business conversation, his keynotes are loaded with modern tools, concepts & strategies. He is also the Co-founder of Andii, a peer to peer last-mile delivery startup.