 SMALL BUSINESS CANNOT BE TO ALL PEOPLE

EACH BUSINESS MUST REACH SPECIFIC TO

SATISFY CUSTOMERS ON THEIR PARTICULAR
NEEDS.
CANNOT BE ALL TO ALL PEOPLE
REACH SPECIFIC:
THE PROCESS OF FINDING AND

STUDYING POTENTIAL CUSTOMERS

VIDEO PRESENTATION
ISTHE PROCESS OF DIVIDING THE MARKET
OF POTENTIAL CUSTOMERS BASED ON
DIFFERENT CHARACTERISTICS:

 SCOPE OF PRODUCT
 MARKET DEMOGRAPHICS
 SPENDING HABBITS
  SCOPE OF PRODUCT
 Is your product international or national in
scope?

Isit likely that you will sell it primarily in

your own region or community?
International Scope
 Market Demographics:
Age: children, teens, young, middle,
elderly.
Gender: male, female.
Ethnic and/or religious background
 Family life cycle: newly married,
married for 10 – 20 years, with or without
children.
Income: low, medium, high.
Education: elementary, high school, college,
university
Marital status: single, married
 SPENDING HABBITS
Lifestyle: health conscious, conservative,
exciting, trendy, economical.
Social class: lower, middle, upper.
Activities & interests: sports, fitness, shopping, books
Technologically driven: likely to purchase items
online or not?
 P.E.S.T. ANALYSIS
DESCRIBE A FRAMEWORK OF
MACRO-ENVIRONMENTAL
FACTORS USED IN THE
ENVIRONMENTAL SCANNING.
(external marketing environment)
 POLITICAL
THIS FACTOR LOOKS AT HOW
GOVERNMENT REGULATIONS AND
LEGAL ISSUES AFFECTS A BUSINESS
ABILITY TO BE PROFITABLE.
EX. TAX GUIDELINES, EMPLOYMENT
LAWS,SAFETY REGULATIONS, ETC.
 ECONOMIC
THIS FACTOR EXAMINES THE
OUTSIDE ECONOMIC ISSUES THAT
CAN PLAY A ROLE IN A BUSINESS
SUCCESS.

EX. UNEMPLOYMENT, SUPPLY AND DEMAND,

EXCHANGE
 SOCIAL

THIS FACTOR ANALYZES THE

DEMOGRAPHIC AND CULTURAL
ASPECTS OF THE BUSINESS MARKETS.

EX.JOB MARKET TRENDS, LIFESTYLE

CHANGES, AGE DISTRIBUTION.
 TECHNOLOGICAL
THIS FACTOR TAKES INTO
CONSIDERATION THE
TECHNOLOGY ISSUES THAT
AFFECT HOW BUSINESS DELIVERS
PRODUCTS AND SERVICES TO
MARKET PLACE.
EX. ROLE OF INTERNET,TECHNOLOGY
ADVANCEMENTS,ETC.
THANK YOU….