Market, A group of people who may buy a product or service, Target customers, Specific people a business wants to serve, Customer needs, Things people require or want from a product or service, Market research, Gathering information to understand customers and their needs, Product or service, What a business offers to customers, School canteen, Example of a place selling snacks to students, Students who buy snacks, Example of target customers, Affordable price, A customer need for budget-friendly products, Good taste, A customer need for enjoyable food, Convenience, A customer need for quick and easy buying, Look around your community, Observe who buys similar products or services, Identify possible customers, List people who might buy your product or service, Find out their needs, Ask simple questions to know what they want, Check what they prefer, Learn about preferences price range and buying habits, Use the information, Choose or improve your product based on what you learned, Who might buy my product, A question to identify target customers, What do these customers need, A question to learn customer needs, How much can they afford, A question about customer budget, What product or service do they prefer, A question about customer preference, How can I find out what they want, A question about doing market research, Key message, Ask them listen to their answers and use feedback, Successful business, Knows its customers
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quiz 1
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