ENTREPRENEURSHIP

• Target Market 


  Sage in market identification process, aims to determine the buyers with common needs.
• Used methods of Target Marketing are;

  1. Geographic
  2. Demographic
  3. Psychological
  4. Behavioral
• Geographic Segmentation


  The total market is divided according to geographical location.
• Psychological Segmentation


  The total market is divided in terms on how costumer's think and behave.
• Demographic Segmentation

  It is divided, based on the consumers
• Psychological Segmentation

  It is divided in terms on how costumer's think and behave.
• Behavioral Segmentation

  Costumer's behavior pattern as they interact with the company.
• Costumer's Requirements

  Specific characteristics that the consumers need from a product or a service.
• Two types of service requirements;

  1. Service
  2. Output
• Service Requirements

  Intangible thing or product that cannot be touched the costumer can fill the fulfilment.
• Output Requirements


  Tangible thing or things that can be seen
• Market size

  Most critical task is to calculate the market size, and the potential value that market has for their start-up business.
• Market size, is size of the arena where entrepreneurs will play with their business
• Variables of Geographic Segmentation

  1. Climate
  2. Culture
  3. Dominant Ethnic Group
  4. Density
• Variables of Demographic Segmentation;

  1. Age
  2. Gender
  3. Income
  4. Occupation
  5. Education
• Variables of Physical Segmentation: 

  1. Needs and wants
  2. Attitudes
  3. Social Class
  4. Lifestyle