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Identifying market


To introduce new service, or new business you need to identify the market. Who your customer will be. Is it people or business or services. Then try to figure out what family status do they have. Is they will be single, married or separated. What they age will be...who are they, woman or man. Hen identify what area of service you will provide. Is it local or wider geographical area. Then you need to see who will buy your product...poor people or middle class/rich people. Look carefully how you will be serving those people, because usually they have different communications models between them...as better you serve, as better you will be promoted. Then consider lifestyle...the way product or service should promise itself. What lifestyle your customer have...do they like to see some fashionable things around your product or do they like to have service in the latest fashionable way by using latest technologies or tools. Then look on the pricing strategy. How you will be charging your customer. Some people like discounts, some middle level price, some looking for cheapest as possible. Need to define what preference have your customer. Then you need to identify how customers where your business is making decisions to buy similar services. Consider please also other groups of customer who will be not interested in your product. You need to have model how to not waste your company time and in same time provide equal service for everyone.

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