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Int RRL

The document discusses conducting a target market analysis to identify potential customers for a business. It recommends focusing on the five W's and H's (who, what, when, where, why, how) of potential customers by interviewing existing and potential customers and analyzing social media demographics. Once customer information is gathered, it can be used to price products, adjust offerings to suit customers better, and develop a marketing plan targeted at them.

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Juliana Marie Rodriguez
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57 views2 pages

Int RRL

The document discusses conducting a target market analysis to identify potential customers for a business. It recommends focusing on the five W's and H's (who, what, when, where, why, how) of potential customers by interviewing existing and potential customers and analyzing social media demographics. Once customer information is gathered, it can be used to price products, adjust offerings to suit customers better, and develop a marketing plan targeted at them.

Uploaded by

Juliana Marie Rodriguez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Find Your Customers With A Target Market Analysis

(Kappel, 2017) When starting a business you need to know how to attract customer and where are you
going to find your customers. Without customers, your business has no chance of surviving.

Target market is the customers to whom you want potentially sell your products or services. Target
market is not everyone who is located in your business’s area. It’s only made up of the people who are
good fits for your products. You need to break down exactly who your customers are and where to find
them. This breakdown is called target market segmentation.

A target market analysis is a study you do of your potential customers. When you conduct your target
market analysis, focus on the five W’s and H’s of your potential customers. Target Market Analysis may
be hard but there are many ways. You can interview your customers and potential customers. If you
have active social media accounts, you can get some demographic information from your accounts’
stats. Social media marketing for small business gives you direct access to some of your most influential
customers and potential customers.

Once you’ve gathered all the information you can about your customers, you can then make a plan to
market to them. Consider your new insights while pricing a product. You could use the market data to
adjust your products or services to suit your potential customers better.

https://www.forbes.com/sites/mikekappel/2017/01/09/find-your-customers-with-a-target-market-
analysis/#7ac4ed946bab

Customer relationship and sales

(Shi, 2016) Customer relationships arise endogenously in the equilibrium as buyers make repeat
purchases and sellers give priority to repeat trades. When the buyer–seller ratio is low, the equilibrium
is separating between related and unrelated individuals. When the buyer–seller ratio is high, the
equilibrium is partially mixing because a newly related seller attracts both the related buyer and
unrelated buyers. Customer relationships improve welfare by reducing coordination frictions and
helping sellers learn about the related buyer’s utility. However, an equilibrium is constrained efficient
only when it is separating and when the buyer–seller ratio is low. Moreover, customer relationships
induce micro price dynamics, including sales, even when market conditions are constant. I examine how
market conditions affect markups, the frequency and the sale duration, both analytically and in a
calibrated example.

https://www.sciencedirect.com/science/article/abs/pii/S0022053116300862
What Is a Student Lounge?

(Cavallari, 2020) A study lounge is a space near campuses this set as a place for student to relax and
study. The student lounge is often designed to be both comfortable and utilitarian, featuring chairs and
tables, power outlets, and in some cases, televisions and other recreational items. These rooms are
usually separated from other common areas to reduce background noise and enhance privacy. This is
done to encourage studying and other academic pursuits rather than recreation.

A student lounge may also be located in classroom buildings, student unions, or other common
buildings. Placement of such lounges allows students who do not live on campus to take advantage of
these study and recreation spaces.

https://www.wisegeek.com/what-is-a-student-lounge.htm#

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