Professional Documents
Culture Documents
Psychographic
values, lifestyles, hobbies
Behavioral
benefits sought, usage rate
Berkley Center for Entrepreneurial Studies
Tips for Identifying Market Segments
Secondary Research
Databases & Reports
Newspapers & Magazines
Ask
Industry players
Potential customers
Suppliers
Observe
Berkley Center for Entrepreneurial Studies
Make Sure Your Product Is Compelling
What problem will you solve? What need/desire does
your product address?
How will your product make their lives better, easier,
happier?
Know what your customers are currently doing:
Going to the competition
Using another solution
Nothing
Know how satisfied they are with existing options.
How hard will it be to get them to change what they’re
currently doing?
Indirect Competitors
Operational Excellence
Innovation Leadership
Cost Advantage
Social networking
Trade shows/events
Cold calling/telemarketing
Face-to-face
Public relations
Be focused.
Shipping
Brochures/Sales literature
Website