“customer” in cyberspace. In the case of “Yummy Tummy Oats,” your intermediary might be the online grocery store, the health food site, the children’s site, or the search engine that will help customers find you. So you’ll still have more than just parents and kids to please.
As you begin to define your customers, both the end-users and the intermediaries, describe all of their various attributes: age, location, industry, purchasing patterns, buying sensitivities, “psychographics” (what motivates them), and the like. Be realistic about how people actually behave—not how they should behave.
Use the worksheets on pages 55 and 56 to describe your customers. The first worksheet allows you to consider the types of “customers” you have. The second worksheet gets you started describing the characteristics of each of those. You may need to make copies of the customer profile worksheet—one for each type of “customer.”
Ever wonder why there seem to be three or four fast-food joints at the same intersection? Or why, all of a sudden, not one but three big office supply stores open in a community?
The answer is they all rely on similar statistics to analyze a market. They look for certain factors: population density, characteristics of nearby residents (age, gender, income), number and type of local businesses, and so forth.
Big corporations hire consulting firms to compile these statistics. You’ve got an even bigger consulting group doing it for you—free! The United States Government, particularly the Census Bureau, compiles all kinds of information useful for businesses, and it has put much of it online.
First, a few key websites to remember:
SIZE OF MY MARKET
Determine if the market is large enough to bring you sufficient sales.
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