Complete the following questions to identify the market you are serving:
1. List the products and service you sell. Don’t be too detailed and write them in broad terms;
Example: computers, computer software, computer accessories, printers, modems, Internet access, technical support.
2. How do these products or services improve the business or quality of life of your customer?
Example: the computer saves time, enables easy storage and retrieval of information, keeps track of customers and enables businesses to grow.
3. Identify the geographical boundaries of your market.
Example: Eastern Highlands, Papua New Guinea, Asia Pacific, Siberia
4. Who are your principal competitors?
5. Where is the growth potential in your market?
Example: software training courses for people who purchase computers
6. How do customers and potential customers get to learn about your goods or services?
Example: newspaper advertising, road signs, word-of-mouth, airborne balloons