CATEGORIES OF CONSUMER

Price Shoppers – they are the one who is always price conscious

Brand Loyal Customers – they are into only one brand in one product.

Status Seekers – they are into branded products that symbolizes their status in life.

Service or Feature Shoppers – kung ano ang binibigay nila na offer, ayon ang gusto nila

Convenience Shoppers – they rely on the convenience store which lesser the time they allocate to have
their goods regardless the price.

YOUTUBE: How to identify my target market? Use the target market analysis tool-empowering people.
Onsite

IDENTIFY THE MARKET PROBLEM

* Existing customers are the people who have already purchased the product you are selling

- Are they satisfied? As an entrepreneur, you need to be consistent with the quality to gain a loyal
consumer. Consistency is vital and you need to meet and exceed their expectations

* Target market users are the people in your target market who are not currently looking for a solution

- They are offering their products to someone who they think are possible to be their consumer.

* Prospects are the people who have not yet purchased your product but have an intention

- They are the potential customer who have the intention to purchased your product

HOW TO EVALUATE MARKET PROBLEM?

* Consider if the market is urgent

* Evaluate if the market problem is pervasive or easily diffused if yes think for a temporary solution

- If the problem is not that big but the sales is not increasing, invest in your marketing strategies to gain
new customer

* Determine if the buyers will pay to have this problem

- Are they going to pay? If not, the solution is not good and it is a sign not to stat the solution.