CONDUCT A CUSTOMER AND MARKET ANALYSIS
When you started your business, you probably devised a marketing plan as part of your overall business plan. This would have defined the market in which you intended to sell and targeted the nature and geographical distribution of your customers.
From that strategy you would have been able to produce a marketing plan to help you meet your objectives. When you’re reviewing your business’ performance, you’ll need to assess your customer base and market positioning as a key part of the process. You should update your marketing plan at least as often as your business plan. Carefully at all times.