Market Research and Analysis
Lesson:
Watch this video to learn about value proposition and customer segments, keep in mind while watching the video the business idea you created last lesson in Week 3.
Value Proposition and Customer Segments: Crash Course Business – Entrepreneurship #3
Project Description
Gain a deeper understanding of your target audience and how to tailor your product or service to meet their needs effectively.
Watch this video on how to conduct interviews and surveys for your start-up:
Target Market Interview Questions:
Learning Objectives
This activity will help students practice creative thinking and develop their entrepreneurial skills.
Instructions:
- Set aside 15-20 minutes for this activity.
- Create a profile for your ideal customer, including demographics (age, gender, location, etc.) and psychographics (interests, values, lifestyle, etc.).
- Conduct surveys or interviews with potential customers to gather feedback on your product or business idea. This could be your family or friends.
- Analyze the feedback to identify common themes and insights into your target audience’s needs and preferences.
- Use this information to refine your product or business idea to better meet the needs of your target audience. If you need to revise your start-up idea after the feedback you got in this step, you can go ahead and do that.