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Understanding Customers as a New Business Flashcards

Understanding Customers as a New Business Flashcards
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Customer Pains

The parts of a task that a customer dislikes. Having to wait during an oil change could be an example. Figuring these out can help you meet customer demands.

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Customer Base

These are the people a business presently serves or the individuals who they hope they will be able to serve.

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Creating a Value Proposition: Steps

Determine what happens if business services are unavailable

Decide if the service is even needed

Check if the service is urgent

Assess if others in the market are already offering the service

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Value Proposition

Businesses use this in order to provide a simple explanation of why they were created.

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8 cards in set

Flashcard Content Overview

The flashcards in this set were designed to give you the opportunity to review customer segmentation and customer fit. You'll also be able to focus on the impact of customer gains and pains on a business. The definition of a customer base is also covered by these flashcards. Additionally, you can consider value propositions and how they are created.

Additional Study

Keep focusing on the factors that new businesses need to master by checking out some of these engaging lessons on:

Studying with Flashcards

You can work with these cards using your computer or mobile device, allowing you to review factors relating to customers at any time and from any location. Go over what customers need easily and quickly. Using these cards can help you prepare for quizzes and tests that focus on how new businesses need to handle prospective customers in order to achieve success in the business world.

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Back
Value Proposition

Businesses use this in order to provide a simple explanation of why they were created.

Creating a Value Proposition: Steps

Determine what happens if business services are unavailable

Decide if the service is even needed

Check if the service is urgent

Assess if others in the market are already offering the service

Customer Base

These are the people a business presently serves or the individuals who they hope they will be able to serve.

Customer Pains

The parts of a task that a customer dislikes. Having to wait during an oil change could be an example. Figuring these out can help you meet customer demands.

Customer Gains

The aspects of a task that customers look forward to. Understanding these assists entrepreneurs in satisfying the demands of customers.

Customer Segmentation

The process of dividing a business's customers up based on variations in what they need. This can help businesses reach the right people with their products or services.

Customer Fit

This occurs when the product or service offered by a business meshes with the needs of their prospective customers.

Achieving Customer Fit

Businesses accomplish this by first grasping what their customers need and then ensuring their services or products meet these needs. This leads to success in the business world.

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