1. Who is your target market?
If I created a business it would be for young adult people because they start to have jobs and generate money, then I would make a product that generates some kind of needs.
2. How does your product or service satisfy the needs of your potential customers?
It would only satisfy the need for warmth, as I suppose I would like to create an embroidery sweatshirt business.
3. Which company has the biggest market share in your industry?
There are many companies and more because we live in a highly industrialized state, but maybe it would be INDITEX, which is a clothing store company.
4. How long do you usually run an advertising campaign for?
I would run it every month or change of season to advertise and that people could meet apart from not being disconnected from social media.
5. Is there tough competition in your industry? How do you stand out?
There are many companies as previously mentioned and many of them are large, there are also small enterprises so there is a lot of market.
6. What methods do you use to raise brand awareness?
The one that can be used the most is social media or billboard advertising because it is what people see the most and can be more aware.
I have the same terminology as you, except that in number 2 I put potential market instead of customers but we are referring to the same thing.
ReplyDeleteI agree with your answers, I think that this activity helped me more to know how these terms apply when speaking.
ReplyDeleteYour idea is good. I think there is not so much competition, I think ypur differentiating element is that it handmade, people like that
ReplyDeleteI like your business idea. In fact, I though about the clothing industry too, but I believe that yours differentiate from others because of the embroidery details. That might catch the attention of potential customers. Well done
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