the Customer and the Product

the Customer and the Product - profile for your target...

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Who’s gonna buy this thing and why? Who’s gonna buy this thing and why? The Customer and the Product The Customer and the Product
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Who Will Buy Your Great Idea?  Know your customer and their customer [the end user]. Know why your customer buys from you. If TJX is your initial customer, then the product you  supply should: Increase TJX revenues, or Attract more customers, or Keep customers in the store longer How does your product help TJX do that?
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Profile Your Customer and Their  Customer The ‘Ws’ of the Customer: Who are our current and potential customers? What do our customers do with our products? Where do our customers purchase our products? When do our customers purchase our products? Why [how] do our customers select our products and why do potential customers not select our products? How many of them are there? Quantifying allows us to know the size of the market.
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Demographics Go to www.census.gov and create a
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Unformatted text preview: profile for your target market. • You should show: – the total population of the area in which you intend to locate, – the income level of your target population – the ethnic diversity of the target market, – the household density and – the employment profile. Define your Product • Benefits Check List: Define as specifically as possible the benefits of your product. • Link these benefits to the specific needs/wants/ interests/problems [as applicable] of the target market. • This should form the basis to the reason for purchase for your product . – . Why You? • Value Proposition: What about your product definition makes you unique versus the competition? – SWOT Analysis of competition • Define your value proposition. Compare to competitors value proposition[s]. This will become the basis for your communications campaign to the market...
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This note was uploaded on 02/10/2012 for the course MGT 101 taught by Professor Staff during the Fall '10 term at Texas State.

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the Customer and the Product - profile for your target...

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