MORALES, KATHLYN KYLE M. August 12, 2021 BOME 20 M #2 LEARNING ACTIVITY | DEFINE AND DISCUSS CHARACTERISTICS OF CUSTOMER IN THE MARKET. CUSTOMERS ARE THE INDIVIDUALS AND BUSINESSES THAT PURCHASE GOODS AND SERVICES FROM ANOTHER BUSINESS. BEHAVIORALISTIC CHARACTERISTICS OF CONSUMER MARKETS INCLUDE PROOUCT USAGE RATES, BRAND LOYALTY, USER STATUS OR HOW LONG THEY HAVE BEEN A CUSTOMER , AND EVEN BENEFITS THAT CUSTOMER SEEK. EXPLAIN AT LEAST FIVE (5) COMMON PAIN POINTS OF CUSTOMER ANO WHAT ARE THE POSSIBLE STRATEGY TO DEAL WITH IT. CUSTOMERS EYPECT MORE FROM TODAY'S SMALL BUSINESEES THAN EVER BEFORE. THE Most COMMON PAIN POINTS INCLUDE PROVIDING INACCURATE INFORMATION IN WHICH CUSTOMER SERVICE DERARTMENT PROVIDES BAD INFORMATIONS. TO FIX THIS VITUATION , MAKE PEOPLE FEEL COMFOR™ TABLE ENOUGH TO FIND THE RIGHT ANSWER EVEN IF IT TAKES A FEW MOMENTS PAYS OFF IN THE LONG RUN. ANOTHER PAIN POINTS OF CUSTOMER INCLUDES CREATING HARD- TD- NAVIGATE CINTOMER SERVICE CHANNELS. IN HERE, SHOPPERS ABANDON THEIR PURCHACES IF THEY CAN'T FIND A QUICK ONLINE SOLUTION FOR ANY ISSUE THAT COULD EAD BAD IMPRESSIONS IN YOUR BUSINESS Company. THE BEST VOUNTION TOR THIS IS HAVE A VARIETY WAYS THAT CUSTONIER CAN CONTACT THE COMPANY. NOT LCTENING [5 ANOTHER PAIN POINTS OF CUSTONIER. IT IS WHEN YOURE ASKING THEM 10 REPEAT THEMSELVES. 1D ADDRESS THIS IS TO CREATE VARIETE OF WAYS TO CoLLECT THEIR INFORMATION UKE QUICK ONLINE FORMS. NEXT ONE IS BEING IMPOLITE, vimpLY, BEING RUE TO YouR CusTOMERS. THE BEST Pencrice FoR THIS If 7 TRAIN PERSOWe AND TEAMC ON HOW TO DEFWE IRATE CUSTOMER SITUATIONS. AMO LASTLY, HAVING HIGH DELIVERY CHARGES. CUSTOMERS MIGHT WANT TO BUY Geoos ‘OR SERVICES FROM YOUR (MALL BUSINESS UNTIL A DELIVERY CHARGE BECOMES A PAIN POWT OUTSOURCING THIS VERVICE CAN BRING THE PRICES Down g. WHAT ARE THE DIFFERENT CUSTOMERS PROFILE ANO HOW IT AFFECTS EACH OTHER. ALSO ConsipERWE THAT YoU ARE THE TECHNDPRENEUR HOW ARE You GoiNG TO CONSIDER EACH W YOUR maRKET STRATEGY. (CONSIDERING YOUR DREAM BUSINESS soMEDAY)‘A CUSTOMER PROFILE, OR A CONSUMER PROFILE, If A DETAILED DevcRIPTION OF YOUR mea CUSTOMERS. IN A GUSTOMER PROFILE, YOU'D IDENTIFY PURCHASING BEHAVIORS, PAIN POINTS, IN ope DATA, AND DEMOGRAPHIC DATA WITH THE INTENT OF TARGETING CIMILAR CUSTOMERS DeNtiry wey AND MARKETING CAMIPAIGNC. AS A TECHNOPRENEUR, IT IS A NEED TO CIEARLY Focus on ARE YOU Gog TO BE SELLING TD. THROUGH CUSTOMER PROFILE IT WILL HELP ME TO THE PROBLEM THAT MY BUSINESS 16 TRYING JO RESOLVE - 4 Discuss EACH THE DIFFERENT OoNcEPT WN DECISION MAKING DECISION MAKING IS THE PROCESS OF MAKING CHOICES BY IDENTIFYING A DECISION, GATHERING INFORMATION, ANO ASSESSING ALTERNATNE RESOLUTIONS. ACCORDIN)G 10 6-R. TERRY, ‘DECISION - MAkING 1S THE SELECTION BASED ON soME eRITERIA FROM” TWo oR MoAE pOCCIBLE ALTERNATIVES WHILE ACCORDING TO THED HAIMANN,* IT IS 4 COURSE OF ACTION CHOSEN BY A MAVAGER AS THE MOST EFFECTNE MEANS AT HIS DISPOSAL FOR ACHIEVING GoaLs AND VOLVING PROBLEMS, ACCORDINGLY, THE BETTER THE DEcICION- MAKING PROCESS, THE BETTER WOULO BE THE DECIIONG EMERGING out OF Mf LEADING TO AN EFFICIENT COMMITMENT oF PRECIOUS ORGANICATIOWAL RESOURCES. ” 5: EXPLAIN TERS IN MAKING SUCCESSFUL MARKET RESEARCH. MAKE/ PLOT YOUR OWN MARKET RESEARCH BASED ON YOUR OWN OF INTEREST THE STEPS IN MAKING 4 MARKET RESEARCH INCLUDES DEFINING THE PROBLEM AND RESEARCH OBJECTIVE, DEVELOPING MARKETING RESEARCH PLAN, CoUECT THE Most NEEDED INFOR- MATION AND IMPLEMENTING MARKETING RECEARCH PLAN. A WELL INTEGRATED STRATEGIC PLANNING PROGESS BY CREATING A MARKET RESEARCH |S A GREAT HELP JD DESICN AN ACHIE VA BLE MARKETING STRATEGY. MARKET — RESEARCH 1 THE ART MARKET —————— a = i I RESEARCH OBJECTIVE MARKETING RESEARCH COLLECTING Plan) INFORMATION ENHANCE WNvERCTANOING OF THE COMPLEXITIES OF THE HUNDAN CoxDITION THROUGH ALTERNATIVE “AREGENT HISTORICAL, 7 TRADITIONAL AND ‘THROUGH duRYEYS, MopERN ApeRoAcH OF \WIERVIEWS. AND ART OTHER MopeRN) “ARRWING WITH Ae Oon.cunsion + PRESwIT OW 6 Phocecses AND + GIVE OPPORTUNITIES Haas ne Pee TP your W THE ot Acknonieoee REPRESENTATIONAL FIELO Of ARTS Forms oF IWaUIRY THE pRoecr@ What are the key cleps in wuccecful market research: And ow yoH wil quing to do i wn your WD Market interest, THE KEYPOINTS OF THE MARKET RESEARCH PROCESS INVOLVES Ca) problem DEFINITION © DeteLopmMEMT OF AN APPROACH TO THE PROBLEM C) RESEARCH DESIGN FORMULATION cH) DATA COLLECTION (€) DATA PREPARATION ANO ANALYSIS (F)REPORT PREPARATION AND ARECENTATION. FROM THESE TERS, MY STRATEGY IN (WN MARKET RESEARCH WILL BE Poocess qHOROUGHLY TO AVOID ANY KINO OF MISTAKES AND TD CREATE A cUccessFUL RESEARCH. + AC A FUTURE TECHNOPRENEUR HOW You WhL GoING TO TARGET YOUR MARKET CUSTOMER FoR YOU TO BE Come vucceccFUL 7 AS A TECHNOPRENEUR, HAVING A TARGET IC impoRTANT JO uTAY FOCUSED AND MORE EFFECTIVE IN MARVETING STRATFCY. FIRCT, I WILL Look AT ANY CURPENT CULTDMER BASE, THEN OFCOURG, CHECK OUT mM" COMPETITION. ALWAYS ANALYZE THE PRODICE AnD WERVICEC, CHOOSE PECIFIC DeMoBRAPHICS TO TARGET AND CONCIDER THEIR PrYcHOsRAPHICS. AND LASTLY Io EVAWATING MY DECICION. THROUGH THIS PRocess, I WIL HAVE MoeE EFFECTIVE MARKETING CTRATEGIES AND TL BE ABIE TD GET A GREATER RETURN On) MY MARKETING INVESTMENT.