Knowing who the customer is also helps with such facets of the business as product or service mix, advertising approaches and customer satisfaction. Potential customers know about the business. Continually identifying potential customers and educating them about the business is the hallmark of a prosperous operation. A quick survey of potential customers is adequate for determining if the business is known. If prospective consumers are not aware of the business, the owner should evaluate present promotional efforts and develop supplemental forms of advertising.
Location is appropriate for the business.
One of the major reasons for poor business performance in the cases studied was poor business location and inadequate facilities. A given location may not be suited for all kinds of businesses. When the location is not appropriate, it may be necessary either to find a new one, to redefine the business or even to go into a new business entirely. The market is clearly defined. Having a clear understanding of the trade area and clientele can save both time and money.