Consumer Analysis Project The goal is to apply concepts learnt to a specific marketing situation

The customer analysis is

A customer analysis provides business owners with in-depth information about their current and prospective customers. This information is crucial as it helps the business people plan and determine the future direction of their businesses. While writing a customer analysis, one is often required to reflect upon the business through customer interactions, feedbacks, and comments.

Components of Customer Analysis are :

An exhaustive customer analysis should take care of the three components, the three components are mentioned below :.

1 Customer identification

Regardless of the type or age of your business, it is always important that you identify and define your customers, respectively. Therefore, you should always include the descriptive characteristics of your existing and prospective customers. This should be based on demographics, geographic, psychographic, customer interest, and how they prefer getting information. Once you have identified who your customers are, then you can move to the other component of customer analysis, which is defining their needs.

2 Define your customer’s needs.

Defining your customers’ needs is important as it helps you know whether or not your products/services meet their needs. Also, it helps you to make necessary adjustments so as to meet those needs fully. These are some question below to help you to know your customers are craving.

What are your customer’s hopes and fears?
Are your customers affected by quality, price, or uniqueness?
Do your customers complain about your product/service?
What are their recommendations?

There are plenty of ways by which you can get responses to your questions. This includes:

Asking potential customers your concerns
Considering past actions such as the percentage of customers that bought a similar product.
Looking at questions posted on the Quora website
Joining professional social media platforms such as linked in
Lastly, using social intelligence software to determine issues faced by customers.

3 Determining product-customer fit

basically make plans on how to meet the customer’s needs. Whether your company/business is new or well established, it is always recommended that you provide products or services that meet the taste of your customers.

Also, this section should be a matter of discussion and brainstorming on solutions that can address customer needs. Solving problems that customers experience will definitely resonate with them in the most appropriate way, therefore, boosting your business enterprise.

major in a customer analysis

The market segmentation
The age range of your current and prospect customers
The lifestyle of your customers
The number of potential customers
The Customer base
Purchase history of past and existing customers