Know Your Customers
Of all the possible customers, your business should focus on only a few types; these are the ones most likely to value your business’s offering at the price points that are set.
When creating a business plan, be sure to include a key customer analysis that examines the customers’ demographics and why these customers are important.
Demographics to consider:
- Age of customer
- Household income
Knowing your customers will allow you to know where to spend your marketing dollars and target customers and potential customers right where they are.
Dr. Elijah Clark (March 1, 2016). Knowing your key customers [Web log post]. Retrieved from http://elijahclark.com/knowing-your-key-customers/