what do you consider first the consumer or destination of the business if you want to start a business?
What do you consider first the consumer or destination of the business if you want to start a business?
we look at the demand before we start a new business in any place.
This can only be done through research in an area you are to open the business.
For me I think it is best to look at your product - market fit. It would not be sensible to start a business which doesn’t have a market. So do your research. Your idea may be good to you, but are there people willing to pay you money for your idea?
You first ought to focus on what problem your product soughts to solve. Then your consumers or customers or clients, as the case may be; then the available market for your products.
I take into consideration the customer first and the market demand
Customer is king
The Customers and their need of course
The point of doing business is to first satisfy the need(s) of someone or the society. Consumer are the sole factor that will determine how your business grow… You can’t benefit anything when your business is located in an area where you don’t have a consumer of your product. So, consumer comes first before the destination of the business.
Location and consumers work hand in hand,there are groups of consumers in every location ;Rich,middle class,young,old,healthy dieting etc depending on your niche market. this influences your price and your business strategy.