LOCATING TARGET MARKETS
If any "channel" is involved then mention channel also as a target market
If any strong influencer is involved then mention the influencer also as target market
If B2B then define the DMU and answer this issue
For each target market work out If any "channel" is involved then mention channel also as a target market
If any strong influencer is involved then mention the influencer also as target market
If B2B then define the DMU and answer this issue
- Define customers
- Estimate their numbers
- Classify them in the most relevant way
- Figure out relative attractiveness of these segments
- Select the primary and secondary target segments
- who are the target customers?
whom do we want to serve?
who is the hero of our stories ? - what is the application?
the battle arena - what is the payoff the customers want?
What brings tension relief?
what do the target customers want to achieve / fix / avoid ? - Readiness of our target customers?
Do they have a plan, budget, criteria. mission, organization - what are they doing now ?
who are we competing against ? - How relevant / important is the role of we offer to our customers?
Or the role of the solution provider is bigger? - are we market developers or market fighters?
we sell category or product? - what is our offer?
what weapons are we using? what is our marketing mix? - How is our offer better than others?
how our mix is better than those competing for the same customer / application
ROUTE TO MARKET
What "search paradigm" have we assumed for which segment
- If "searching" for customers directly or through partners answer
- how will we identify prospects
- how will we reach and engage prospects
- how will we communicate and convince
- how will we close and invoice
- how will we deliver and collect
- how will we train and handhold
- how will we support
- how will we be there whenever there is a need or an opportunity
- If the customer "searches" for us
- where will they come from
- criteria for their selection
- what will be their job description
- how will we motivate and compensate them
- Number of people and organization needed to achieve the above
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