Lesson 1 Target Group Analysis and USP

It is crucial to know your target group, their needs and why they (should) choose your product or service. This knowledge is important along the 5 Steps of the consumer decision making process:

  1. Problem recognition: Why has your target group a need for your service or product?
  2. Information search: How does your target group gather information?
  3. Alternatives evaluation: How does your target group weigh choices against comparable alternatives?
  4. Purchase decision: When and why does your target group makes actual purchase?
  5. Post-purchase evaluation: How does your target group reflect on the purchase they made?

With the help of a market analysis, it is possible to find out what distinguishes one’s own product from others and what makes it unique: the unique selling proposition.