Describe the following: Age range (do not state a whole generation) Gender Economic Level Lifestyle Buying Habits What are your customers’ needs? Where are your customers located?
Where do they live? Where do they shop? How does your business meet the needs of your potential customers? What is unique about your business? How large is the market area you intend to serve?
(Geographic and population) What motivates customers to use products/services like yours?
What motivates customers to purchase products/services like yours? Please explain. Is there sufficient demand for your product/service within your target market to make your business profitable? How many transactions do you expect within the next month; 6 months; or year?
Discuss the customer’s job, pains, and gains Customer Jobs
: Describe what a specific customer is trying to get done with existing alternatives. These could be tasks they’re trying to complete, problems they’re trying to solve, or wants or needs they’re trying to satisfy. For example, the customer’s job with a protein bar is to get energy, a quick snack, food source on the go, or reduce hunger.
Customer Pains: negative emotions, undesired costs or situations, and risks the customer (could) experience from existing alternatives on the market.
Customer Gains: benefits the customer expects, desires or would be surprised by. This includes functional utility, social gains, positive emotions, cost savings, etc. Again, this is in comparison to the existing products on the market and not your concept. This assignment requires that you will do research on your market and provide supporting evidence. You must have at least 3 credible sources of data to support your assumptions.