If you starting out or already own a business then you need to explore the minds of the customers. It might be the question why the prospects, clients, customers or consumers rather buy your products not from your competition. No matter what, you need to dig into the needs of the customers. This is the case when you sell Coca-Cola or Nike shoes. It is about a vision that you have and the way the customers want to go with your company.
Get a clear idea who your customers are.
If you want to open a supermarkt then you need to explore the market segement you want to operate in. Then you also need to find out about about pull and reject factors are. Why the customers are coming to your store. Is it because you are not far from the street they live in?. Or is it you give right value for the right price?. Or is it because you offer a better service than other supermarkets?. Get the image of the customers. What their avarage budgets are per month that they are going to spend at your store.
How to get a clear picture of your customers.
To get a clear picture of your targeted market you need to do research. If you are situated near a neighbourhood near a upper class population. Then can serve their needs. They are willing to pay because they make more money than people with lower incomes. You can give customers the convience to order online and deliver the goods to their door, living room or even the kitchen. Also you can adapt your price to their monthly budget to separate from the other store owners who serve the lower or the middle segment.
Get an idea about pull and reject factors.
If you are going to target a market segment that s erve a neighbourhood with extreme rich people like Hollywood actors and lawyers. Then you know that these people do not care about 50 cent more or less. They are looking for people to prepare their food and if it is possible also do their dishes. They have servents and they know what their boss want and that is right value for the right price. They are informed that the boss rather eat a Snicker or a Mars candybar. If the boss want a candybar at 01:00 AM the servant need to get that candybar to keep the boss cool. If you open a 24/7 store in a neighbourhood with these types of bosses. Then you know that you can charge a higher price because these actors and lawyers are willing to pay because they can afford it.
Get to know why the customer do not buy from you.
You need to know what the limits are and why customers are not even willing to enter your store. Then you can map out what it takes to get the customers to enter your store. If your store is situated on a rocky road then the customers on a foot bike are less willing to come to your store because they are afraid of flat tyres. Overcome limitations by exploring needs and attract new customers by expanding your business in due time like products or services.
Take a close look at the trends in the market.
You know that people have the emotional need to statisfy their needs. Look at rich rappers for example they are bragging about their bling and the fast cars. The trends they set to drive Lexus cars since the mid 1990 and now the Tesla's. This is also wearing Gucci sweaters like Biggie Smalls. The supermarkets made a huge step to deliver the grocery's to the kitchen when the orders are placed through the phone and online. What about the China man's restaurants nowadays. Since the phone and the Internet we went to new age. So follow the trends in your market segment.
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