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Financial Literacy Club

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Entrepreneurship · Lesson 2

Customers and Market Research

Part A. Vocabulary

Define each term in your own words.

Target customer

Part B. Guided notes

Fill in each blank using the word bank.

Word bank: Everyone · hypotheticals · interviews · reviews

  1. "" isn't a target customer.
  2. Ask about the past, not .
  3. Don't pitch during — listen.
  4. Competitor reveal unmet needs.

Part C. Check your understanding

Circle the best answer.

  1. 1. Which interview question gives the most reliable information?

    • A. "Would you buy my product?"
    • B. "Tell me about the last time you had this problem. What did you do?"
    • C. "Don't you think this is a great idea?"
    • D. "How much would you pay, hypothetically?"

  2. A founder says their target customer is "everyone who uses the internet."

    2. What's the problem with that?

    • A. Nothing — bigger is better.
    • B. It's too broad to guide who to talk to, what to build, or how to reach them.
    • C. Internet users don't buy things.
    • D. It's illegal.

  3. 3. Reading reviews of competitors can reveal what customers wish were better.

    True/False

Part D. Apply it

Show your work.

  1. 1. Rewrite this question to ask about the past: “Would you use a sneaker-cleaning service?”

  2. 2. Which is a better target customer: “teenagers” or “high school athletes who buy $120+ sneakers”? Why?

Part E. Think about it

Answer in complete sentences.

  1. 1. Why do people give overly positive answers when asked about someone's idea?

  2. 2. Who would you interview first for a business idea of your own?

Exit ticket

Name

Name one rule for a good customer interview.