CMR 242 Miami University Critical Thinking Customer Survey Business Plan Summary Note: Items #1 and 3 will be a part of your business plan! A) Naming Your

CMR 242 Miami University Critical Thinking Customer Survey Business Plan Summary Note: Items #1 and 3 will be a part of your business plan!

A) Naming Your Business:Be sure to read the websites and watch the videos listed under Learning Materials and/or do your own research on both the legal requirements and the ‘how to’ or ‘tips’ on Naming Your Business.

B) Summarize your findings, as well as providing your business name in a short report. Be sure to include the required forms and costs that are associated with registering your business name. These also belong in your Business Plan Appendix. You do NOT have to complete the forms before submitting.

2.Complete Critical Thinking Exercises:

4-1 Customer Analysis and 4-2 Market Analysis in the Entrepreneurship Portfolio section of your text. Be sure to complete the chart and the three bullet point questions shown.

3. CREATE YOUR OWN customer survey specifically for your business. This should be a professional looking form, not just a list of questions on a Word document. Be careful as to what questions and the format that you ask your questions, as this will determine whether your responses are valid and/or useful to you as a business owner. Be sure to avoid using ALL ‘yes’ and ‘no’ response questions so that you can glean the most information possible from your customers. and be sure to include a COMMENTS section in your survey for customer feedback- it appropriate for your business. Your survey will be included in your Business Plan Appendix!

NOTE: Make sure your survey is a separate form that includes your business name and contact info on the header! Entrepreneurship Portfolio
Critical Thinking Exercises
4-1. Step One: Customer Analysis
Describe the typical consumer your business plans to target.
Segment/Attribute
My Customer
Geographic
1.
2.
3.
2. 3.
Demographic
1.
2.
3.
Psychographic
1.
2.
.
Behavioral
1.
2.
3.
What need(s) do you plan to satisfy for this customer?
4-2. Step Two: Market Analysis
• How large is the total market for your product or service? How
did you arrive at this figure?
• Which segment of this market do you intend to target? Why?
How large is the segment?
• Describe your segmentation method. Why did you choose this
method?
4-3. Research can give you a great deal of information, but you will
have to use your math skills to make it more useful. For example,
imagine you are interested in opening a dog-care service and you
have gathered the following facts:
• In 2000, the U.S. Census Bureau estimated that there were
2.67 people per household.
• According to your city’s public records, the population of your
community is 80,000.

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