Consumer profiling

Consumer Profiling
By identifying and knowing your customers, you can assess their needs and consider if your business concept will meet those needs. Research will assist you to determine the customer group most likely to purchase and use your product or service. This group will become your target market. Your target market may be businesses or consumers. By identifying your target market, its demographics, and its buying and spending habits, you will be able to focus your marketing and advertising efforts more effectively.

In the preliminary stages of your market research, you may have multiple potential markets for your product or service. You will want to use a variety of methods to pinpoint the markets that are most likely to receive your business concept well. Creating a customer profile is one method of describing the individuals who make up your target market. A customer profile can provide a clear picture of the type of person or business you are planning to serve. This information helps to drive your marketing strategy, promotional design, and sales process.