Who is your Customer?

6/10/2021
 Session 1
6/10/2021
 What is Market?

6/10/2021 Session 1
 What is Market?
⮚ A Market is a, group of people and firm who are in contact with one
another for the purpose of buying and selling some commodity.
⮚ It is not necessary that every member of the market is in contact with
everyone else; the contacts may be indirect.
(Robert Dorfman)

6/10/2021 Session 1
What is Market Research?
 What is Market Research?
Market research is an
organized effort to gather
information about target
markets and customers: know
about them, starting with
who they are. It is a very
important component of
business strategy and a major
factor in maintaining
competitiveness
 Why Market Research?

6/10/2021 Session 1
 Why Market Research?
⮚ Market research can identify
how customers and potential
customers might view your
business and identify gaps in
customer expectations.
⮚ This is powerful information to
have when completing
your marketing strategy.
⮚ Having good market intelligence
helps to minimize risks when
making key business decisions.
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 Types of Market Research

There are two type of

Market Research;
1) Primary Research
2) Secondary Research

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 Primary Research

6/10/2021 Session 1
 Secondary Research

6/10/2021 Session 1
 How Business Use Marketing To
Create Value?
1) Targeting Customer (STDVP) – who is your
customer?
2) Marketing Mix (4Ps) – how to create value for
customer
3) Marketing Analysis (5Cs and SWOT) – how
you analyze the situation If we really want to
create value for our customers.
Arrow process Targeting customer (STDVP)
Please write your great title is here

Segmentation Differentiation
Value
Targeting Proposition

Segmentation
Identifying different
groups of customers
Targeting
Description Here Differentiation Value Proposition
Selecting which segment Adding meaningful and Benefits of your offer, how
to serve valued differences you solve your customers
need
What is Market Segmentation?
Strengths
Please write your great title is here

But I must explain to you how all this mistaken idea of denouncing pleasure and
praising pain was born and I will give you a complete account of the system, and
expound the actual, or one who avoids a pain that produces no resultant pleasure?

1. Demographic Information: “Who”

2. Geographic Information: “Where”
3. Psychographic Information: “Why”
Description Here
your customer buys

62
%
Ways of Segmenting a Market
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How to do Segmentation?
Brainstorming Potential industry for your idea
• Subdivide each industry into the markets and Market Segments
• Preparing list of people who may benefit to form your idea. (Focus on end user not customer)
• Narrowing down on industry, market, segments and End-user

Description Here

What we do
 Organizing your primary
customer research (End user)

Who is the end user?

 Targeting
Create solutions
(Beachhead Market)
Please write your great title is here

Target Marketing involves breaking a market into

segments and then concentrating your marketing
efforts on one or a few key segments consisting of
the customers whose needs and desires most
closely match your product or service offerings. It
can be the key to attracting new business,
increasing your sales, and making your business a
success. exercise, except to obtain some advantage from it?
 How can you find your
beachhead market?
1. Does your customer have the money to pay for your product
or service?
2. Is that customer accessible for you?
3. Does the target market have a strong reason to buy your
product?
4. Can you deliver the whole product/solution?
5. Is there entrenched competition that could block you from
getting the business?
6. If you win this market can it help you win other segments as
well?
7. Is the market consistent with the value, passion and goals of
the founding team?
 How can you build
Create solutions
persona?
Please write your great title is here

A persona is the representative of a

group of people that are homogeneous.
They speak to each other, they have
similar belief, lifestyle, attitude, Income
group and sale cycle. They also want the
But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will
same
give you a complete account message.
of the system, and expound the actual teachings of the great explorer of the truth, the
master-builder of human Nor again is there anyone happiness. No one rejects, dislikes, or avoids pleasure itself,
because pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences
that are procure him some great pleasure. laborious physical exercise, except to obtain some advantage from it?
 Important features of Persona
1. The persona is the one person that best represents your end
user profile.
2. It makes your end user concrete and unambiguous.
3. It is a constant reminder: who is your customer.
4. It focuses on one and deselect others.
5. Your search for persona is iterative process.
6. The persona brings your team together

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 Typical general information about
your persona
• When were they born?
• When were they raised?
• When did they do to school?
• What kind of family they have?
• What age are they today?
• How did they look?
• What kind of places they like to go?
• What company they work at?
• How many years they been there?
• What kind of manager they have?
• How did they get fired?
• How did they get promoted?

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 Total Addressable Market (TAM)

TAM is annual amount financial revenue

expressed in Rs/. Per year. Many markets that
seems very attractive, very large at first
glance often end up being much smaller on
close inspection. You have to validate your
TAM assumptions. We need to validate the
real numbers a business built on invalidated
assumptions is a business with cloy feet.

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