In any business, deciding on a target market is crucial to the success of your venture. While one may believe that anyone would enjoy their product or service, more research needs to be done to properly hone in on who the best customer will be. Then, an organization can move forward with properly marketing to those customers and building a relationship with them. Understanding the feedback provided by the target market can assist an entrepreneur in better understanding the success or failure.
For this week, please discuss the following:
Suppose you started a business and your original assumptions about your target customer base turned out to be incorrect. How would you deal with this setback? In what way would understanding the interviewing process for feedback be beneficial?