How can a business determine its reach in terms of customer location?

A business can determine its reach in terms of customer location by conducting market research. This can involve gathering demographic information to discover opportunities and limitations for customer growth. The business can answer questions such as where do your customers live and where can your business reach. Direct research methods such as surveys, questionnaires, focus groups, and in-depth interviews can be used to gather this information.

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Using market research to find customers – gather demographic information to discover opportunities and limitations for customer growth (examples: data on age, income, family and interests). Then answer these questions to get a good sense of your market: Is there a desire for your product or service? How many people would be interested in your offering? What are the income range and employment rate? Where do your customers live and where can your business reach? How many similar options are already available to consumers? What do potential customers pay for these alternatives? The methods you can use to do direct research are surveys, questionnaires, focus groups and in-depth interviews.

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Competitive Landscape Analysis (Part 2)

Evaluate your position in the market and familiarize how you compare against competitors to do more of the right things. Use this Competitive Landscap...

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