Customer potential analysis enables to record and evaluate data on the potential of a customer in a particular market. To find a customer with each of the suppliers and its purchase products. Make a record of potential data as planning data in a planning hierarchy.

Evaluations of panning data:

• The overall potential of a particular customer

• Your potential with regard to a particular customer

• The potential of your competitors with regard to a particular customer

• The potential of a particular product or product hierarchy in a particular market

Guide:

• Evaluate your own performance with a customer by comparing the actual sales volume with the potential figures.

• Perform the same analysis for your competitors and compare your performance with that of your competitors.

Identify your potential customers

• Can choose to see everyone as your potential customers

• Focus on a specific segment or group of people to be more effective.

• Grouping consumers to identify target for your products.

• Use marketing activities to engage and convert into your customers.

• Identify how the market is divided for the product that you are providing.

Different customer groups:

• Geography : region , population, climate

• Demographics : age, gender, income, family size, family life cycle

• Psycho graphics : lifestyle, personality, interests, habits, values

• Behavior : usage, loyalty, readiness to purchase, attitude towards product, buying decision

• Benefits : social status, health, emotions

Identifying Potential Customers:

• Get Familiar with Demographics

For example, a clothing brand launching a funky clothing line.

• Evaluating the Psycho graphics

For example, a tech savvy person would love a gadget with innovative and latest features.

• Do Research on Successful Competitor Brands

For example, cost efficient field software might not be required by Top Notch businesses.

• Analyze your Product to see who will buy from you

For example, a massage chair which relaxes the muscles and works best for people with muscle and joint pains.

Tip

Identify the different groups of customers in the market, you need to select your best customers. These are customer groups with needs that you are able to meet adequately. Develop your value proposition for each of them.