STEP 3Build an End User Profile for the Beachhead Market
WHAT IS STEP 3, BUILD AN END USER PROFILE FOR THE BEACHHEAD MARKET?
Using primary market research techniques, build out a description, including demographic and psychographic information, with specific facts about the end users of your product. You will include their needs and wants as well as invaluable information about their behavior.
WHY DO WE DO THIS STEP, AND WHY DO WE DO IT NOW?
There are three reasons you do this step:
To keep the focus on the customer
To validate your selection of Beachhead Market by deepening your understanding of the end user
To provide the necessary information to estimate the Total Addressable Market (TAM) in the next step
Once you have identified your Beachhead Market, you need to dive in and do a detailed analysis of the market to see if it is in fact viable, see if you have scoped it out and defined it properly, and start to develop a game plan to effectively “attack” this market.
As I describe more fully in ...
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