// EXPANDING YOUR BUSINESS
A Business Consulting perspective
Business consulting focuses on one problem or a cluster of related problems in any assigned projects. The ultimate goal is to provide solutions to any problem that arises in the business world.
In the 1980s and 90s business streamlined to operate more cost-effectively. At that time, they let go many of the internal experts who had specialized knowledge outside the core business. But now, the complexity of doing business in today’s global economy has forced many businesses to seek expert advice on those same issues. The ideal solution is to bring in, short term, a consultant with exactly the expertise required.
1
The Target Market
Your Target Market is the customer group that you feel will most likely want to buy your products or services. This group is defined by your customer profile.
3
The Demographics
Your Demographics are the characteristics of the population such as size, growth, age, income, gender, marital status and buying habits. This information helps you decide whether this target market is large enough for your products or services in the target area.
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2
The Market Research
The Market Analysis is an analysis of research data that results in determinations about the marketability of a product or service in the given market.
4
The Customer Profile
Your Customer Profile is a detailed profile of your typical customer. For individual consumers, it includes information such as age, income, gender, marital status, profession and buying habits. For businesses, it includes the types of business, number of years in business, number of employees, annual revenues and products or services sold.