Chapter 4
Finding Your Target Market
IN THIS CHAPTER
Taking stock of the target market
Picking the right industry
Getting the niche right
Gauging the most attractive customers
Choosing the best spot on the industry value chain
The most important step toward creating a great business is creating a product or service that customers want and will buy. This is called a powerful offering. The first step in creating a powerful offering is selecting the right market. Picking the proper combination of industry attractiveness, niche attractiveness, and customer attractiveness creates the best market for your product.
By combining industry attractiveness, niche attractiveness, and customer attractiveness, you can understand the overall market potential. This chapter refers to this combination as the market attractiveness from this point forward. Market attractiveness is one of the most important ...
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