Student Name Small Businesses Each business reach customers

Student Name: _______

• Small Businesses __________________ • Each business ____ reach _____customers and satisfy their _____needs

Newton Moment…….

• Be a ______ for small businesses. • Allow small businesses to ______ and ______ that fit a particular ____. • Allow small businesses to focus their _____ on a specific ______ • Maximize _______. • Be a primary function of _______.

• ______ are your ______? • _______ will buy your ____? • _______ and serve a particular customer group – ______ ___!

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• To satisfy basic needs. • To solve problems. • To make themselves feel good.

• Define the scope of your product: – 1. – 2.

• Identify Market Demographics: – 1. – 2. – 3. – 4. – 5.

• Identify Market Demographics: – Age: – Gender: – Education: – Income: – Marital status: – Ethnic and/or religious – Family life cycle:

• Segmenting the Market – breaking consumers and their spending habits into categories: – Lifestyle: – Social class: – Opinion: – Activities & interests: – Attitudes and beliefs: –Technologically driven:

• You ______ – the types of people in your market. • You ____ – who’d you’d like to target. NOW. . • You _____ What They Want!

• 6 ways to Identify Consumer Wants/ Needs: 1. 2. 3. 4. 5. 6.

• Product Identification Questions: 1. 2. 3. 4. 5.

• Turning Motivators into Messages • From the targets and purchasing motivators you’ve identified, • 1. • 2. • 3.

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• Interact with/get to know your customers • 1. • 2. • * • * Information is power, and this type of feedback from customers may show you opportunities for improvement.

• Use the information you’ve gathered! 1. 2. 3. Instead of letting your current customer base define you, use target marketing to determine who your next customers or clients should be.