How does the increase in TV recorder equipment affect your market?
The questions that affect target markets will be different for every business, and these are just examples.
You need to know whether you have 500 people in your market, or 200,000, or 2 billion.
Be able to show what the total market is for your business.
Families read the newspaper; students read posters on bookstore walls.
Knowing your market segments will help you make smart decisions when it comes to providing the products and services that will work best for them and for communicating with them.You need to understand what's going on with your market.What marketing trends and fashions do you see having an influence on your market segments?Segmentation helps you target specific people with specific messages and helps you focus on user needs.Families might need quick, consistent service while students might need late-night service.Or you might be able to find your market information at https://gov/business , which is a good source for information from the U. Census Bureau, the Department of Labor, the Department of Commerce and others.You might also need to find other government statistics, or other commercial statistics, so you may be conducting some internet searches to track down the information.How many people eat in restaurants in your market area, and how is this behavior changing?Market forecasts start with the total numbers of possible purchasers in each market segment, then project percentage change over the next three to five years.And whether you're just starting a new business or reviewing an existing business, you should renew your market analysis at least every year.Markets change--a business needs to watch for changes in its market.