Business Administration - Entrepreneurship and Small Business EBM530 Chapter Notes - Chapter 5: Customer Survey, Target Market, Organizational Culture
20 Apr 2018
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Determine who your best paying customer is not necessarily who needs it the most, but who values it the most and is willing to pay for it. Identifying a target market will help you develop a much more effective marketing strategy. You should not plan to sell to anyone or everyone. A target market profile can be done for business-to-business clients: Industry or specialty: size of business (sales, # of employees, budget, organizational culture, geographic location, decision makers. S(cid:272)ott(cid:859)s dire(cid:272)tory: lists (cid:271)usi(cid:374)esses (cid:271)y type, (cid:449)ith (cid:374)u(cid:373)(cid:271)er of e(cid:373)ployees, sales et(cid:272). There is a fee to use the directory online, but it is available for use at most libraries. Jessie(cid:859)s ho(cid:373)e(cid:373)ade marmalade, an organic marmalade and jam wholesaler. Market profile for jessie(cid:859)s ho(cid:373)e(cid:373)ade mar(cid:373)alade: small specialty grocery shops with ,000-m annual sales. 2: health food stores with 3-12 employees, decision maker: owner or purchasing manager, greater winnipeg area - predominantly in upscale neighborhoods or neighborhoods with a highly educated population.
