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Concepts for Effective Business & Consulting
Researching your Target Audience
To truly ensure your branding is effective, you must have an understanding of your target audience. After all, branding is all about creating an image that your desired customers will embrace and instantly associate with your company.
Topics of research in this arena might include:
- Market demand
- Purchase motivations and influences
- Gap analysis
- Optimal price points
- Existing buying behaviour
- Customer trade offs
- Purchase triggers
- Customer and purchase journeys
Trend analysis
Trend analysis is similar to general data analysis, but focuses specifically on identifying trends in your business/market. It involves comparing previous data with current data to extract insights.
This might include:
- Purchase volumes and habits
- Customer demographics
- Product/service performance
- Customer retention and churn
- Brand perceptions