2: Market
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- 2.1: Identifying Your Customers
- Every entrepreneur has, in the back of her mind, a mental picture of the prototypical customer. The question is whether this image is based in reality. Does this ideal customer exist? What if she does, but it turns out that she doesn’t want to buy your product? As you learn more about your market,you may need to be flexible and willing to change your image of both the customer and the product itself.
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- 2.2: Evaluating the Market
- Good market research is not only accessible to you, but critical to your product’s success. So what is it? Market research takes on many different forms, but a standard, broad definition is the following: market research is the systematic collection, analysis, and reporting of data about the market and its preferences, opinions, trends, and plans.
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