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Beachhead Market Selection and End User Profile
Beachhead Market Selection and End User Profile
Beachhead Market Selection and End User Profile
MARKET SEGMENTATION
Entrepreneurship pyramid
https://blog.udemy.com/types-of-market-seg
mentation
/
Step 2
SELECTING A BEACHHEAD
MARKET
What is a beachhead market?
http://ocw.mit.edu/courses/sloan-sch
ool-of-management/15-390-new-enterpr
ises-spring-2013/video-tutorials/lec
ture-7
/
Use same criteria as before to select a beachhead market
1. Is the target customer well funded and are they readily accessible to our sales
force?
2. Do they have a compelling reason to buy or well defined pain/need?
3. Can we today, with the help of partners, deliver a whole product to fulfill that
reason to buy?
4. Is there no entrenched competition that could prevent us from getting a fair
shot at this business?
5. If we win this segment, can we leverage it to enter additional segments?
6. Can we show results in a time frame consistent with the founders personal
agendas
Pick the low hanging fruit, not necessarily the biggest market out there
PRIMARY MARKET
RESEARCH
Primary market research
1. End user: Who specifically will be using your product? Think about decision making unit and decision
making process required to purchase the product
2. Application: What would the end user be using the product for? What task would be dramatically
improved by your new venture?
3. Benefits: What is the actual value that the end user would gain from the use of your new product? i.e.
time savings, cost savings, additional profit etc.
4. Lead customers: Who are the most influential customers that others look to for thought leadership
and adoption of new technology? These are sometimes referred to as lighthouse customers because
they are so respected that when they buy, others look to them and follow their lead gaining instant
credibility
5. Market characteristics: What about this market would help or hinder the adoption of new technology?
6. Partners/players: Which companies will you need to work with to provide a solution that integrates
into the customers workflow?
7. Size of market: Roughly, how many potential customers exist if you achieve 100% market
penetration?
8. Competition: Who, if anyone, is making similar products real or perceived? This is from customers
perspective and not just yours
9. Complementary assets required: What else does your customer need in order to get the full solution,
that is, to get full functionality from your product?
Prep work for primary research
Write an email draft, phone script and face-to-face script to initiate the ask
for primary market research
Draft questions to ask the potential users of the product in order to obtain
necessary research information
Work within each team to simulate an actual customer conversation and
practice the drafted questions
How are you going to conduct the research?
For B2B clients, find a specific contact and/or influencer and get their
information (phone number, email address)
For B2C clients, determine a specific location to perform the market research or
determine who to contact if you already have some individuals in mind
Think about how you are going to divide up the work. Should different people
make calls while others interact with people? Should the technical lead remain
behind to build the product? How will the deliverables person play a role in this?
Determine when the earliest time possible would be to conduct the research
Step 3
Gender
Age range
Income range
Geographic location
What motivates them?
What do they fear most?
Who is their hero?
Where do they go for vacation? For dinner? Before work?
What newspapers do they read? Websites, What TV shows do they watch?
What is the general reason they are buying this product? Savings? Image?
Peer pressure?
What makes them special and identifiable?
What is their story?