Chapter 7Market Segmentation and Target Market Selection + China's Market Penetration Approach
So in war, the way is to avoid what is strong, and strike at what is weak.
—Sun Tzu, The Art of War
Step 1: Market Segmentation
It is important to be objective in assessing all of your market possibilities. I recommend that you take a broad view and choose a category or an angle by which to segment the market for your assessment: a funnel approach.
Customer/Market Segmentation: Slice It Up!
Just because you are a market leader in some areas, there could still be other markets or segments you could tap into. You can slice your existing market segments (or addressable market) in different ways, such as by demographic segments. You can look at different geographies, or different customer wants and needs, and consider modified versions of your product or service to address these new market needs and opportunities.
Developed Markets versus Emerging Markets
Given that there are many ways to segment a market, we will focus our analysis ...
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