Instructional Module: Republic of The Philippines Nueva Vizcaya State University Bambang, Nueva Vizcaya

Republic of the Philippines
NUEVA VIZCAYA STATE UNIVERSITY

Bambang, Nueva Vizcaya
INSTRUCTIONAL MODULE
IM No.2: ENG’G 3-2NDSEM-2020-2021
College: COLLEGE OF ENGINEERING

Campus :BAMBANG CAMPUS
DEGREE PROGRAM BSME COURSE NO. Eng’g 3

SPECIALIZATION MECHANICAL COURSE TITLE Technopreneurship 101
YEAR LEVEL SECOND YEAR TIME FRAME 6 HOURS WK.NO. 2-3 IM NO. 2
I. UNIT TITLE/CHAPTER TITLE: Customers
II. LESSON TITLE: Customers and Market Research
1 Demographics
1.1 Age
1.2 Location
1.3 Hobbies
1.4 Income
1.5 Purchasing habits
2 Customer Needs
2.1 Most Common Types of Customer Needs
3 Customer Pin Points
3.1 Most common customer pin points
4 Market Research
4.1 Educational Sources
4.2 Objective of Research Market
4.3 Types of Market Research
4.4 Key steps od successful Market Research
4.5 Understanding the types of Customer
5 Decision Making
5.1 Components of Decision Making
5.2 The Six Thinking Hats
6 Customer Profile
6.1 Target your ideal Customer Profile
6.2 Create Customer Profile
III. LESSON OVERVIEW:
This aims to understand about customer needs and profile.
IV. DESIRED LEARNING OUTCOMES:
At the end of this lesson, the students should be able to:

1. Construct statement appropriate for an inquiry.
2. Know their customer needs and demographics.
3. Create customer profile.
NVSU-FR-ICD-05-00 (081220) “In Accordance with Section 185, Fair Use of a Copyrighted Work of Page 1 of 13
Republic Act 8293 the copyrighted works included in this material
may be reproduced for educational purposes only and not for
commercial distribution.”
IM No.2: ENG’G 3-2NDSEM-2020-2021
V. LESSON CONTENT:
1. Customer needs, pain points and demographics.

2. Market research and validation
3. The decision-making process
4. Target customer profile, persona
Most Common Types of Customer Needs
1. Product Needs
 Functionality - customers need your product or service to function the way they need in order to
solve their problem or desire.
 Price - customers have unique budgets with which they can purchase a product or service.
 Convenience - product or service needs to be a convenient solution to the function your customers
are trying to meet.
 Experience - the experience using your product or service needs to be easy -- or at least clear -- so
as not to create more work for your customers.
 Design - along the lines of experience, the product or service needs a slick design to make it relatively
easy and intuitive to use.
 Reliability - the product or service needs to reliably function as advertised every time the customer
wants to use it.
 Performance - the product or service needs to perform correctly so the customer can achieve their
goals.
 Efficiency – the product or service needs to be efficient for the customer by streamlining an otherwise
time-consuming process.
 Compatibility - the product or service needs to be compatible with other products your customer is
already using.
2. Service Needs
 Empathy - when your customers get in touch with customer service, they want empathy and
understanding from the people assisting them.
 Fairness - from pricing to terms of service to contract length, customers expect fairness from a
company.
 Transparency - customers expect transparency from a company they're doing business with. Service
outages, pricing changes, and things breaking happen, and customers deserve openness from the
businesses they give money to.
 Control - customers need to feel like they're in control of the business interaction from start to finish
and beyond, and customer empowerment shouldn't end with the sale. Make it easy for them to return
products, change subscriptions, adjust terms, etc.
 Options - customers need options when they're getting ready to make a purchase from a company.
Offer a variety of product, subscription, and payment options to provide that freedom of choice.
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 Information - customers need information, from the moment they start interacting with your brand to
days and months after making a purchase. Business should invest in educational blog content,
instructional knowledge base content, and regular communication so customers have the information
they need to successfully use a product or service.
 Accessibility - customers need to be able to access your service and support teams. This means
providing multiple channels for customer service. We'll talk a little more about these options later.
Common Customer Pain Points

Providing Inaccurate Information
It doesn’t matter what kind of small business you have, clients who call you or contact you online are
looking for good advice. If your customer service department provides bad information, you’re making
the situation worse and harming your brand even further.
There’s a quick fix here. An accepting business culture where people comfortable enough to find the right
answer even if it takes a few moments pays off in the long run. This type of atmosphere let’s people feel
comfortable about contacting supervisors or other employees with more information.
Creating Hard-to-Navigate Customer Service Channels
A big percentage of shoppers will abandon their purchases if they can’t find a quick online solution for
any issue. Hard to navigate channels give the impression that your company doesn’t want to solve the
problem.
Having a variety of ways customers can contact you is the solution. For example, you can use online
forms and telephone numbers as well as instant messaging portals.
Not Listening
Another good way to cause some friction between you and your customers is asking them to repeat
themselves.
Automation can come to the rescue here. There’s a variety of different ways to collect their information
like quick online forms. That way when you call them you’ll have the high points in front of you and they
won’t need to explain them.
Being Impolite
There’s nothing worse for your small business bottom line than being rude to customers.
Small businesses should designate at least one employee to handle these calls. That person or team
needs to be trained in best practices and how to defuse irate customer situations.
Having High Delivery Charges
Customers might want to buy goods or services from your small business until a delivery charge becomes
a pain point.
Outsourcing this service can bring the prices down. For example, UPS has automated the process for
small businesses so they can compete with the bigger players.
Having Complicated Fees
By and large, customers react adversely to extra charges and especially those that aren’t explained
properly. Of course, that’s not to say that you shouldn’t add to your base price but being transparent
helps.
A good rule of thumb here is to describe any additional fees on your bill clearly and concisely. Remember
never to complicate an invoice by just adding a fee without an explanation.
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Putting Customers on Hold

One sure fire way to lose a sale is to put a customer on hold and make them wait for an answer. Today’s
customers expect immediate satisfaction and research says you have less than a minute to resolve their
issues before they move on.
Making sure that they don’t feel like you’re wasting their time is essential. That’s why small business
should always have a callback feature added to their customer service toolkit. Although most customers
prefer to speak to a live agent, this kind of callback option is in second place when it comes to customer
preferences.
Market Research
Effective market research gives businesses like yours the luxury of making insight-driven, informed
decisions to create a profitable marketing strategy. For those heading into untapped markets or
diversifying into a completely new sector, market research helps to mitigate business risks by finding out
exactly what your customers want.
Even more critically, market research enables business owners to ascertain the financial feasibility of a
venture before committing substantial resources to its success.
There are two types of market research:
o Primary data
Information on your target market that you’ve been able to compile yourself or pay for someone
to gather for you.
o Secondary data
Compiling research that’s already publicly available e.g. government documents and
whitepapers, trade associations and reports from potential industry competitors.
What types of primary research can I find?
Exploratory research
This tends to be an open-ended approach to market research; making the most of unstructured
interviews with respondents, allowing them to provide lengthy considered answers that, in turn, work to
highlight specific industry problems.
Specific research
This type of primary research is considerably more precise in its approach than exploratory research;
usually because it is conducted after exploratory research has identified a particular issue. Of the two
market research methods, specific research is the more expensive option; largely due to the level of
structure and formality to its approach.
3 key primary research methods to interview your target demographic
1. Direct mail
A direct mail questionnaire can get personal responses to structured queries. In order to get the
most succinct direct mail responses it’s important that questions are straight to the point,
addressed personally to the individual in question – explaining to them the reasoning behind the
questionnaire – and potentially, an incentive for them to complete it such as a discount on their
next purchase of your products. Return rates of three to five per cent are generally considered
acceptable for direct mail campaigns.
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2. Telephone interviews
Phone surveys tend to be one of the most cost-effective primary research methods for
businesses looking to get an understanding from their target demographic. A telephone
interview can be somewhat scripted, although it’s best to memorize the script as much as
possible to ensure the conversation appears as natural as possible to the respondent. Phone
interviews are not only cost-effective – with the ability to cover wide geographic areas
inexpensively - they are quick to carry out too. Experienced interviewers will be able to conduct
at least six telephone surveys an hour.
3. Personal interviews
Taking a face-to-face approach to primary market research can also pay dividends. Whether it’s
a focus group used to brainstorm with a select cluster of respondents about product ideas,
buying preferences and decisions; or a one-on-one in-depth interview, allowing the respondent
to address the topics they desire with minimal questioning, it’s one of the most effective forms of
marketing research.
What types of secondary market research can I use?
Public data sources

Publicly available data is largely free to obtain. Government departments are usually one of the best
public data sources, as well as business departments of public libraries that may be able to provide
industry statistics and previously recorded research.
Commercial sources
At the British Library’s Business & IP Centre, we house more than £5m worth of the latest market
reports from leading publishers such as Mintel, Frost & Sullivan, Passport and many more. Outside of
the Business & IP Centre, commercial data will often involve cost factors such as association and
subscription fees.
Educational sources
Institutions and colleges remain valuable data sources despite the fact they can often be overlooked as
a secondary research method. Universities, colleges and institutes tend to carry out more industry,
niche research than almost any other sector of the business community.
Why is market research important for new business ideas?
Market research should never be underestimated. Many successful new businesses enjoy longevity
because their owners conduct regular market research to understand their target market, identify
consumer problems and pinpoint realistic competitors.
It’s the simplest way for entrepreneurs to keep up with market trends and maintain a competitive edge
by sizing up your business opportunity.
Market research can be carried out at various stages of a business life cycle, from pre-launch and beyond.
Having a greater understanding of your marketplace from the very start will enable you to create a sound
business strategy to establish and grow your brand into one that’s better than the competition.
Define the objectives of your market research
The scope of the market research you’ll undertake is influenced by your overall objectives – what do you
want to learn about your market and the external factors influencing it?
The objectives will also determine the types of market research that you need to undertake in order to be
successful:
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Primary market research covers the following:
o Monitoring the effectiveness of sales

o Ascertaining the quality of services provided by competitors
o Understanding the channels of communication used by competitors
o Assess the active competition within the market
Secondary market research covers the following:
o Published company reports data

o Existing surveys and studies
o Newspaper reports
o Government data
Primary market research is a kind of market research that can be carried out individually or as a business,
with the aim of collecting unique data that can be used to improve products, services and overall
functionality.
Secondary market research is a different type of market research as it relies on information that’s already
available from a variety of sources.
The key steps of successful market research
There are four important steps to any successful market research study:
 Investigate whether similar research has previously been carried out
 If so, analyse the existing relevant data that meets your objectives – providing it meets your
budget
 How will the existing data be used and by whom?
 Do you need to conduct your own primary market research too? If so, with whom?
Understanding the types of customer you’ll encounter
Most new businesses will encounter three different types of customer; market research gives you the
ability to understand how your target customers think and adapt to their needs in order to turn them into
regular customers and brand advocates.
The ‘savvy’ purchaser

This type of customer is someone that’s not necessarily concerned with the quality or effectiveness of a
product or service, but is intent on getting the best possible value. A ‘savvy’ customer is someone that’s
likely to be aware of all the prices offered by your major competitors, so you’ll need to carry out
secondary market research to understand whether your products or services will be priced
competitively.
If it transpires that your products or services will not be the cheapest it’s best to know now in order to
provide compelling evidence to potential purchasers why they should continue to buy through you;
perhaps based on quality and reliability.
The industry influencer

An industry expert or influencer is someone that is not only highly knowledgeable about your target
market, they can influence other prospective customers that trust their opinion.
An industry expert will not be fixated on the price of a product or service, they are often more concerned
with the value and quality. Industry influencers make for ideal candidates to use for primary market
research, allowing them to use your products or services, garnering their opinion on them and the market
as a whole.
IM No.2: ENG’G 3-2NDSEM-2020-2021
The end-user
An end-user is a customer that will actually use your products or services on a day-to-day basis. End
users also make for excellent candidates for primary market research, allowing you to understand their
frustrations and limitations – ideal if you’re still in the process of developing and designing new
products, giving you the edge over the competition.
The value of market research reports
Aside from talking to target customers, there is significant value in published market reports. Many of
these are freely available in libraries, business groups and trade associations.
At the Business & IP Centre you can get access to more than £5m worth of current market reports from
leading publishers such as Mintel, Frost & Sullivan, Passport and many, many more. They’re all
exceptionally useful for keeping abreast of changing trends and investigating new markets.
However, it’s important to interpret these market research reports in isolation. Some of the more
generalised industry research may not be wholly applicable to your target market; nor is it a guarantee of
consumer demand in your area. Be sure to take note of the date of publication too. In fast-changing
industries such as technology, a report that’s even a year or two old could already be outdated.
Validation
Validation in market research is a built-in quality control measure and safeguard created for online and
mobile surveys. Validation is when a follow-up wave of research is conducted to ensure answers from
Wave 1 match those of Wave 2.
A simple example of this is focus group confirmation calls. If you used a pre-screener online survey or
email survey to qualify participants for a focus group, the last thing you want is for the participants to
show up in person and realize their answers do not match their email survey responses from a few weeks
ago. Validation calls can be placed to the respondent to check if the responses from the phone re-
screener match the original online survey responses. If they do not, the respondent can be terminated
from the market research study.
Validation doesn't always have to be by phone. The validation can be through any other form of
methodology. The key is that the validation needs to be a separate wave of market research. The
safeguard re-asks the same questions through any of the following modes: mail survey, a second online
survey or email survey, or telephone survey.
In focus groups, the validation can occur as participants sign-in and are waiting to enter the focus
group however this is often too late to take action
Once you find out the participant has changed their answers or they do not match the original screening
criteria, it is too late to find a replacement. Whereas if the validation call or email was placed weeks ahead
of time, it would allow ample time for the market research firm to find a suitable replacement.
With the number of online and email surveys flying around, respondents have become extra "click happy".
This is even true on mobile devices where it can be difficult to select the correct radio button on a multiple
response question ("the fat finger scenario"). Validation helps ensure respondents have reported truthful
data and that the market research data is accurately reflective of the feelings and behaviors of
respondents.
Entrepreneurship Decision Making Process
Decision making is all about employing one’s mental processes to come up with a final choice after
careful consideration of several options or alternatives. The outcome of your decision could significantly
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affect your work, your business, and even your life. This is why in entrepreneurship, making intelligent
decisions is regarded as very important because it could mean the difference between success and
failure of your endeavor.
Components of Decision-Making
In order to make intelligent decisions, you need to identify the four components that are instrumental to
making the right choices. 1. Context. This involves the environment where the decision should be made
on. You should get all the relevant information, the facts, the data, and everything else you need to help
you make a decision.
2. Objectives. It is important to have a clear understanding of what you hope to achieve after making a
decision because this will serve as a guide in the process of deciding. Your objectives should make the
whole process logical, easy, and a lot less stressful.
3. Alternatives. Know all the available alternatives before making a decision. Analyze everything carefully
and do not limit your options to a very small number. Gather as many options as possible before making
a decision and find out the risks involved.
4. Criteria. If you have knowledge of your objectives and you have all the information you need, coming
up with a criteria should not be difficult. This could be hard or soft criteria; hard includes budget and time
allocation whereas soft includes employee satisfaction and organizational disruption. Assess your criteria
fully before making a decision.
The Six Thinking Hats

The six thinking hats, otherwise referred to as the de Bono Hats System, comprise six thinking styles
created by Edward de Bono, a physician and consultant, to help you make intelligent decisions. These
are: white hat, red hat, black hat, yellow hat, blue hat, and green hat. Before deciding on anything, you
must utilize all six hats to come up with a rational, effective, positive, and feasible decision.
White Hat
This thinking hat requires you to focus on the available data and find out what learning you can get from
it. You are to remain very objective while under this hat and make sure you analyze the data you have
carefully and comprehensively.
Red Hat
This thinking hat requires you to listen to your intuitions, to your gut reaction, and feelings. You would
also consider how others will react to your decision, especially those who are not very familiar with you
and the way you make decisions.
Black Hat
This thinking hat looks at the negative side of things. You would need to be cautious and defensive when
under this hat and find out what would happen if the ideas or the decisions you make do not work. This
helps you prepare for contingency plans and be proactive should things go wrong in the process.
Yellow Hat
This thinking hat looks at the positive side of things. You would need to examine the benefits of a certain
idea or decision and pinpoint possible opportunities. This helps to motivate you to keep going even when
faced with adverse reactions from others.
Blue Hat
This thinking hat is used primarily for process control wherein people gather for meetings and brainstorm
on contingency measures and new ideas. This also employs the aid of the Black Hat and must be used
alongside it, should there be a need to do so.
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Green Hat
This thinking hat utilizes creativity. It requires you to think out of the box and be resourceful when
addressing an idea, an issue, or a concern. The green hat strives to find more options and solutions when
problems come your way.
Decision-Making in Entrepreneurship
Entrepreneurship involves managing, building, and molding of ideas, endeavors, businesses, and
ventures. A large part of it relies on making intelligent decisions in order to come up with positive
outcomes. In small businesses for example, you will be faced everyday with problems revolving around
your people, your products and services, your finances, and your customers. If you do not know how to
make effective decisions, you could risk a lot of things, including the lack of support from your people,
driving customers away, and ultimately, losing your business. For this reason, decision-making is
rendered essential in entrepreneurship because although you may have the drive and the most
remarkable ideas in your head, if you cannot make sound decisions, all these will be put to waste.
CUSTOMER PROFILES: HOW TO TARGET YOUR IDEAL CUSTOMER
 As marketers, we’re told that 50% of our budget is wasted on unqualified traffic and leads. But, what
if you could reduce that wasted spend by being more focused on who you target?
 Customer profiles (or buyer personas) are designed to help you understand who your ideal customers
are. By doing so, you can craft marketing messages that address their challenges and needs, and
attract them to your business.
 Here, we share what customer profiles are, how you can create them, best practice tips and how they
can benefit your business. Plus, we provide you with 3 examples to help inspire you when creating
your own.
What is a customer profile?
Before we go any further, here’s the official definition of a customer profile:
A customer profile tells you everything about the people you want to bring onto your customer
list.
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It includes common details they tend to share, such as their:
 Age
 Location
 Hobbies
 Job title
 Income
 Purchasing habits
 Goals or motivations
 Challenges or pain points
A B2B customer profile should also include the firmographic data of their targets—such as their company
size, employee count, or annual turnover.
Customer profiles are often referred to as buyer personas or user profiles. Each term essentially means
the same thing: A single document that lists key demographics, interests, and behaviors of your target
customers.
Why do marketers consider customer profiles so important?
It's easier to find new leads

When you put together a user profile, you’ll know the exact traits your target customers share.
This data is a goldmine for sales teams because they can use the information you’ve already collected
about your customers to actively generate new leads that fit the same criteria.
For example: If your customer profile notes that leads are in-house marketers involved in online
communities, you’d head to sites like Growth Hackers or Hacker News to find them.
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It’s much easier than running generic (and costly) Facebook ads to people who might be your ideal
customer, right?
You can quickly qualify new targets

How many of the leads who make their way to your pipeline actually convert?
If 100 leads come through to your sales team, just 25% of them might actually be the people you want to
convert. But it doesn’t make sense to nurture them all; you just need to identify the leads most likely to
hit “purchase”.
So, for each new lead that comes in, map them across to your customer profile using the data you’ve
already collected about them. Prioritize nurturing those who are a match.
It helps with account-based marketing

It’s no secret that personalization is here to stay. One report found 52% of consumers are willing to share
personal data in exchange for personalized offers or discounts—something you can use customer
profiling to take advantage of.
When you’re using an account-based marketing strategy, you’ll need to personalize the communication
your sales team have with each lead. It’s tough to do that on a large scale when you don’t have much
time to invest into learning about each individual lead.
Build customer loyalty

Your job doesn’t end when a lead becomes a customer.
The most successful businesses focus on customer retention - keeping existing customers around,
encouraging them to become loyal to your brand, and persuading them to purchase time and time again.
There’s a reason for this: It’s five times cheaper to retain an existing customer than acquire a new one.
How to create customer profiles
Then follow this six-step guide to create (accurate) customer profiles:
1. Talk to your sales team

Your sales team talk to your current customers day-in, day-out.
They know them better than anyone else—making them a great resource for your customer profile
building. So, ask your sales team to find the common traits, behaviors or motivations that people tend to
show before they hit “purchase”.
For example: Do your sales team often spend time answering questions like “when will our first payment
be taken”? Chances are, many of your future customers will be struggling with the same thing: Upfront
payment.
You can be aware of this when nurturing future leads by including their concerns under the “challenges”
section of your customer profile.
2. Analyze your analytics

Google Analytics is a free and easy way to learn more about the activity happening on your website.
However, it’s not just a goldmine for website analytics; you can use their free data to build your customer
profiles.
Start by looking at basic details, such as:
 Age: What age range do most customers fall within?

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 Gender: Is the percentage evenly split, or does one gender form the majority?
 Location: What city, state, country or continent are they in?
 Device: Do most people visit your site on mobile or desktop?
It’s wise to understand these metrics site-wide. But you want to understand the people actually converting
into a sale —not anyone visiting your website who doesn’t have an interest in purchasing from you.
To do this, set up Goal tracking in your Analytics account and use the “Sessions with Conversions”
segment. That way, you can easily see the traits your customers have and build them into your user
profiles.
3. Survey your customers

Talking to your sales team and analyzing your analytics is a great starting point. But it’s almost impossible
to find out what your customers are thinking unless you ask them. So, go straight to the horses’ mouth
and ask them what they think!
Also, known as Voice of Customer, you can get direct feedback from your customers using survey tools
like Survey Monkey, Typeform, Google Forms and SuperOffice Forms.
Ask your existing customers to answer key questions that fill the gaps, such as:
 What does a typical day look like for you?

 Which online forums do you use?
 Which influencers do you follow?
 What problem(s) did we help you to solve?
 What is the fastest way for somebody to make you angry?
Once you’ve got the answers from a relatively large sample size, dig through your data and find the
common denominators.
You might find that a huge percentage of people follow influencers like Tim Ferriss, Arianna
Huffington and Richard Branson - a trait you might’ve overlooked in your customer profile if you didn’t
ask those existing customers directly.
4. Research your customers

Unfortunately, not everyone who receives your survey link will be willing to share their opinion.
But that doesn’t mean you’re limited.

Spend some time doing your own research to find common traits, and don't forget about the customer
journey and path to purchase. To find the answers, you could use customer profiling tools like:
 Alexa, Kvckr or AngelList for firmographic data

 Twitter, LinkedIn or industry forums to inspect their language
The more you know about your leads, the better you can nurture them towards a customer.
5. Store their details in a central CRM

By this point, you should have a good understanding of the people you’re targeting.
You don’t want all of your hard work to go to waste. So, create a template for your customer profile in
your CRM. Give them a name (like “Steve, CEO” as shown in the examples below), list the traits you’ve
found in their description, and pin them internally so your entire company can see.
Then, make your sales and marketing teams refer back to your CRM entry regularly to see the type of
lead you want to attract/engage. That way, you won’t spend time finding or nurturing leads who don’t fit
your customer profile.
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(Don’t forget to make it obvious that your personas aren’t real people. Otherwise, your sales team might
waste time trying to convert them!)
6. Rinse and repeat

Before you rush off to build your profiles, don’t forget that you don’t need to lump everything you find into
a single customer profile.
It’s important to keep your buyer personas as accurate and niche as possible.
You can do this by finding common traits that several target customers tend to share, and grouping them
where relevant. If anything doesn’t fit (but the data is still significant), it should form a new profile.
VI. LEARNING ACTIVITIES

1. Define and discuss characteristics of customer in the market.
2. Explain at least five (5) common pain points of customer and what are the possible strategy to
deal with it.
3. What are the different customers profile and how it affects each other. Also considering that you
are the technopreneur how are you going to consider each in your market strategy. ( Considering
your dream business someday)
4. Discuss each the different concept in decision making?
5. Explain steps in making successful market research. Make/ plot your own market research based
on your own of interest. ( Considering your dream business someday)
6. What are the key steps in successful market research. And how you will going to do it with your
own market interest? ( Considering your dream business someday)
7. As a future technopreneur how you will going to target your market customer for you to become
successful?
VII. EVALUATION:
VIII. ASSIGNMENT
Create a customer profile. ( Considering your dream business someday) Make use of illustrations
to discuss it better.
IX. REFERENCES
https://blog.hubspot.com/service/customer-needs
https://inbounddigital.net/digital-marketing-blog/market-driven-vs-product-driven/
https://www.infoclutch.com/blog/product-driven-vs-customer-driven-which-is-best-strategy
https://ec.europa.eu/eurostat/statistics-explained/index.php/Glossary:Process_innovation
file:///C:/Users/Eng-PC/Downloads/SmartGuidetoServiceInnovation_7957.pdf
https://smallbiztrends.com/2018/06/most-common-customer-pain-points.html
https://www.bl.uk/business-and-ip-centre
https://www.driveresearch.com/market-research-company-blog/what-is-validation-in-market-research-
voice- of-customer-voc-rochester
http://www.exforsys.com/career-center/entrepreneurship/entrepreneurship-decision-making-
process.html
https://www.superoffice.com/blog/customer-profiles/

Instructional Module: Republic of The Philippines Nueva Vizcaya State University Bambang, Nueva Vizcaya

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Instructional Module: Republic of The Philippines Nueva Vizcaya State University Bambang, Nueva Vizcaya

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Republic of the Philippines

NUEVA VIZCAYA STATE UNIVERSITY

College: COLLEGE OF ENGINEERING

DEGREE PROGRAM BSME COURSE NO. Eng’g 3

I. UNIT TITLE/CHAPTER TITLE: Customers

II. LESSON TITLE: Customers and Market Research

III. LESSON OVERVIEW:

This aims to understand about customer needs and profile.

IV. DESIRED LEARNING OUTCOMES:

At the end of this lesson, the students should be able to:

1. Customer needs, pain points and demographics.

Common Customer Pain Points

Putting Customers on Hold

There are two types of market research:

What types of primary research can I find?

3 key primary research methods to interview your target demographic

What types of secondary market research can I use?

Public data sources

Why is market research important for new business ideas?

Define the objectives of your market research

Primary market research covers the following:

o Monitoring the effectiveness of sales

Secondary market research covers the following:

o Published company reports data

The key steps of successful market research

Understanding the types of customer you’ll encounter

The ‘savvy’ purchaser

The industry influencer

The value of market research reports

Entrepreneurship Decision Making Process

The Six Thinking Hats

CUSTOMER PROFILES: HOW TO TARGET YOUR IDEAL CUSTOMER

What is a customer profile?

Before we go any further, here’s the official definition of a customer profile:

It includes common details they tend to share, such as their:

Why do marketers consider customer profiles so important?

It's easier to find new leads

You can quickly qualify new targets

It helps with account-based marketing

Build customer loyalty

How to create customer profiles

Then follow this six-step guide to create (accurate) customer profiles:

1. Talk to your sales team

2. Analyze your analytics

Start by looking at basic details, such as:

 Age: What age range do most customers fall within?

3. Survey your customers

 What does a typical day look like for you?

4. Research your customers

But that doesn’t mean you’re limited.

 Alexa, Kvckr or AngelList for firmographic data

5. Store their details in a central CRM

6. Rinse and repeat

VI. LEARNING ACTIVITIES

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