Step-by-Step Guide
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Lesson 1
Understanding your current market means knowing who your existing customers are, how they use your product, where they buy it, and why they choose your brand over others.
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Lesson 2
Identifying new customer segments means discovering untapped user groups based on location, income level, fuel preference, or usage habits.
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Lesson 3
Conducting competitor analysis means identifying other businesses offering similar products and understanding their strengths and weaknesses so you can position yourself more effectively.
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Lesson 4
Choosing the right distribution channels means selecting the best methods to deliver your product to your target customers efficiently and affordably.
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Lesson 5
Social media marketing means using platforms like Facebook, Instagram, WhatsApp, or YouTube to share stories, show product benefits, and connect with potential customers.
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Lesson 6
Monitoring customer feedback means collecting and analyzing information from users about their experience with your product to help you improve continuously.
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Case Study
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Self-Assessment
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Key Learning Points
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Glossary of Key Terms
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Frequently Asked Questions (FAQs)
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Definition:
Conducting competitor analysis means identifying other businesses offering similar products and understanding their strengths and weaknesses so you can position yourself more effectively.
Learning Objectives:
- List who your main competitors are.
- Understand what they offer and at what price.
- Find ways to differentiate your business and offer better value.
Key Touch Points:
- Visit local shops, talk to customers, or search online to find similar products.
- Compare features, pricing, distribution, and marketing strategies.
- Look for gaps — where are customers not satisfied?
Decide how you can improve or offer something unique (e.g., better service, design, or payment options).