I will implement what I have learned from this chapter into my future business plan, which is a web/graphic design studio.
2. Market Analysis
3. Review of the competition and Self
4. Review of the Distribution Channels
5. Development of a “Preliminary” Marketing Mix
6. Evaluation of the Economics
7. Revision and Extension of Steps 1-6 until a consistent plan emerges
Consumer Analysis
What is the need category? Who needs us and why?
Every business needs packaging design and a website to promote their product.
Because:
1. Consumers buy a product a lot of time because of its graphic design better than its function.
2. Consumers willing to pay more on a better looking product.
3. Consumers now search the web for business instead of looking through yellow page.
4. Consumers spend more time searching and comparing a product on the Internet before they leave home to buy.
Is the product a high- or low-involvement product?
I will consider doing a graphic/website design a low-involvement product because it is not really necessary to the product, but! I believe it will help the business somehow, at least it helps catching consumer’s attention at the beginning.
Do I intend to segment the market? Why? How?
Geographic - Bay area (locally serve)
Demographic - 35-60 years old, own personal business, Asian business owner
Psychographic- People who exposed to Internet more often, or more aggressive on advertisement.
Behavioral- going to own a business, or a business owner who has no branding system and a website yet.
