Essential for businesses to understand their industry, target audience, and competitors.
Conduct thorough research to gather insights into your industry, market trends, and competitors. This information can guide your design choices and help you stand out.
- Define the specific demographic, geographic, psychographic, and behavioral characteristics of your ideal customers.
- Perform a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to understand your business's factors.
- Clearly identify who your competitors are, including direct competitors and indirect competitors.