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Business Plans For Dummies, 3rd Edition
book

Business Plans For Dummies, 3rd Edition

by Paul Tiffany, Steven D. Peterson
March 2022
Beginner content levelBeginner
416 pages
11h 44m
English
For Dummies
Content preview from Business Plans For Dummies, 3rd Edition

Chapter 6

Slicing and Dicing Markets

IN THIS CHAPTER

check Grouping customers together through market segmentation

check Understanding who buys, what they buy, and why they buy

check Creating market segments that make sense

check Shaping your business around the key customers you serve

As you put together your business plan, it may seem good to view each of your customers — the Alexes, Aniyahs, and D’Andres who regularly walk through your doors — as individuals with unique personalities and distinct likes and dislikes. You may also be tempted to make things simple and lump everyone together and view all your customers in exactly the same way — after all, the whole world should want your products and services, right?

Unfortunately, neither of these tactics is very helpful when it comes to creating a business plan you can use. In an ideal world, you could address each customer individually. Walmart sees more than 200 million customers a week. Southwest Airlines averages more than 350,000 passengers per day. Starbucks’s baristas serve well over a million worldwide caffeine addicts per hour. But is this one-by-one ...

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Publisher Resources

ISBN: 9781119866374Purchase Link