Example Of Target Market In A Business Plan

and 2) are customers looking for the highest level of reliability, or will they have their own support and just seek a basic level of service?

There is one last critical step in the Customer Analysis -- showing an understanding of the actual decision-making process.

Here is how to analyze your customers for your business plan.

The Customer Analysis section of the business plan assesses the customer segments that the company serves.

Examples of questions to be answered here include: 1) will the customer consult others in their organization/family before making a decision? and 3) will the product/service require significant operational changes (e.g., will the customer have to invest time to learn new technologies?

will the product/service cause other members within the organization to lose their jobs? It is essential to truly understand customers to develop a successful business and marketing strategy.

The business plan must also detail the drivers of customer decision-making.

Sample questions to answer include: 1) Do customers find price to be more important than the quality of the product or service?

In it, the company must 1) identify its target customers, 2) convey the needs of these customers, and 3) show how its products and services satisfy these needs.

The first step of the Customer Analysis is to define exactly which customers the company is serving. It is not adequate to say the company is targeting small businesses, for example, because there are several million of these types of customers.

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