Contemporary Entrepreneurship Getting to Know Your Customers

1
Contemporary Entrepreneurship Getting to Know
Your Customers

• Ron Runyan, Presenter
• ROP Business and Computer Applications

2
Customers and Need Levels

• Environmental factors
• Family size
• Upbringing
• Family values
• Psychographics
• life-style
• Personality make-up
• Demographics study
• Income level -- Ethnicity
• Educational level -- Gender
• Employment status -- Age

3
Maslows Needs Hierarchy

• Self-actualization
• Self-esteem
• Love and belonging
• Safety
• Physiological

4
Six Steps of the Market Research Process

• Define the question
• Determine needed data
• Collect data
• Secondary and primary data
• Analyze data
• Implement data
• Make a decision and develop plan
• Evaluate action

5
Psychographic Study

• Random surveys
• Questionnaires
• Telephone surveys
• Social organizations
• Service clubs