The Divorce Hacker's Guide to Untying the Knot by Ann E. Grant

Author:Ann E. Grant
Language: eng
Format: epub
Publisher: New World Library

Know Your Market and Target Audience

Find out whether people will actually buy your product or service. This may be the most important thing you do. You can do this by validating your market. In other words, who, exactly, will buy your product or service other than your family or friends? (And don’t say, “Everyone in America will want my product!” Trust me — they won’t.) What is the size of your target market? Who are your customers? Is your product or service relevant to their everyday life? Why do they need it?

In your business plan, you want to define and quantify your market and target audience with as many specific numbers and as much factual data as possible. Research online the relevant industry associations, which often provide this kind of market data for free. Read industry articles related to your product or service, and quantify the demographics of your market with census data. However, the most important way to get this information is to ask potential customers directly and listen to what they say. Who is most interested in your product or service and why?

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