Monday, May 12, 2014

Market Research (150 points)

For any business to succeed, detailed market research is essential. Knowing 1) who your customer is and 2) how many of those customers are in proximity to your business are critical to the survival of the business. This is true for a micro business such as the one you've created as well. The task here is a bit complicated, and requires a bit of speculation also. You  need to identify your market both by literal definition and a quantifiable count. First, identify who trying to sell to exactly. Parents? Single moms? Friends? High school seniors? Whoever it is, exactly identify them. Then determine where you'll find them (on campus, neighborhood, Facebook...), and then determine, as accurately as you can, how many potential clients are in that range. You might have to count the houses in a neighborhood(s), know the number of graduating seniors, or your # of Facebook friends. This task is to be done on a Pages document on your iPad and then shown to me upon completion.
To complete:
1. Determine who you're selling to
2. Determine where you'll find them
3. Determine how many are available
4. Detail all this in a Pages document
5. Show me

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