Know your customers

To get an idea of who your potential customers are, begin with what you know about your current customers. There are likely to be similarities.

Statistics on your market’s population size, age and GDP will help to define:

  • who’s going to buy your product or service
  • if your customers are an intermediary or an end consumer
  • what affects customer behaviour and how to measure it
  • what customers will pay for your product or service
  • why customers might buy your product or service

Find out customer preferences, motivations and behaviour by:

  • conducting surveys
  • having informal conversations at trade shows, events or missions
  • setting up formal interviews
  • setting up focus groups
  • selling small quantities as a test

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