Objective:
- Develop and demonstrate their understanding of their customers, by describing their characteristics and motivations.
Overview:
This activity should be undertaken individually by the entrepreneur, then to be discussed with the business development provider or peers in a group situation. Asking the entrepreneur to explain their answers will help them to deepen their understanding of their customers, help to identify where there are information gaps and therefore what additional market research may be required.
Activity:
Instructions
Invite the entrepreneurs / small business owner to consider their customers and to describe them in terms of each of the following categories:
- Demographic, who are your customers? What is their typical profile in terms of age, gender, income, employment status etc.?
- Geographic, where are your customers and where do they buy your products / services?
- Psychographic, what’s important to your customers? What are their values and aspirations; what kind of lifestyle do they have?
- Behaviour, how often and when do your customers buy?
And then describe what the benefits the product or service brings to customers.
My customers …..
The benefit of my product / service to my customers is …..
Skill Development:
By developing analytical and reasoning skills within entrepreneurial learners, it is possible to test assumptions and explore research findings with a clear context of start-up. This activity focuses upon the understanding of the potential customer and requires research and reflective skills.