Chapter 5. Customer demographic and audience

Question 1

Traditional demographic

Answer 1

Age, Location, Sex/Gender, Ethnicity, Income

Question 2

New Demographic

Answer 2

Interests, Passions, Skills, Beliefs, Values

Question 3

It is beneficial to view a market not with business point of view but…

Answer 3

with someone shopping/existing in the markets point of view (shop owner of specific niche) or (customer in specific niche)

Question 4

Networking with existing stores can…

Answer 4

Allow for access to their shelves as a place for you to sell your item

Question 5

two issues that can be addressed to fix not having any sales

Answer 5

Changing what she offered
and changing who she offered to

Question 6

A good business opportunity can present itself in…

Answer 6

place where an abundance of people have interest in a topic But have trouble implementing it into their daily lives

Question 7

To give them the fish is to…

Answer 7

give them exactly what to buy, cook, eat, each week

Question 8

Most people prefer to

Answer 8

buy, not be sold too.

Question 9

persuasion vs invitation

Answer 9

persuasion is old and requires you to crack a person to buy, while invitation makes people want to be a part of your product/service

Question 10

an effective way to figure out if a business is worth chasing

Answer 10

Ask customers or prospects or anyone you find fit to ask if they are willing to purchase, or better yet how much are they willing to pay.

Question 11

Starting point questions for finding out if an idea is worth chasing

Answer 11

1. what is your biggest problem with ____?
2. what is the number one question you have about ____?
3. what can u do to help you with ____?

Question 12

ways to check approval with larger scale audiences

Answer 12

Google form surveys
Surveymonkey.com

Question 13

another effective manner of testing Ideas

Answer 13

Having a customer list where you can email them about possible projects.
In which you apply a ranking scale to each idea from
No thanks ——->to I need this
1-5 but with cool words

Question 14

a survey should only contain about ____ questions

Answer 14

ten

Question 15

It is important to remember that Majority opinion is…

Answer 15

Not everything, and following what the majority wants can lead to unhappiness

Question 16

the customer is…

Answer 16

not always right

Question 17

most basic questions of a micro business

Answer 17

•Does the project produce an obvious product or service
•Do you know people who will want to buy it (or know where to find them)
•Do you have a way to get paid

Question 18

decision making matrix

Answer 18

A scale where you rank your ideas numerical and then run them thru a rubric that consist of a 5 point scale.

Question 19

decision making matrix categories

Answer 19

Impact
Effort
Profitability
Vision
Sum

Question 20

Key points for Chapter 5

Answer 20

• Who are your people? You don’t necessarily have to think of them in
categories such as age, race, and gender. Instead, you can think of
them in terms of shared beliefs and values.
• You can often follow a fad, craze, or trend by establishing yourself as
an authority and simplifying something about the process for others
hoping to benefit from it.
• Use surveys to understand customers and prospects. The more spe-
cific, the better. Ask:
“What is the number one thing I can do for
you?»
• Use the decision-making matrix to evaluate multiple ideas against
one another. You don’t have to choose only one idea, but the exercise
can help you decide what to pursue next.