Fit Product to Market 2015-08-04T08:34:52+00:00

The Big Think Revenue Generator™

Fit Product to Market

Fit Product to Market

Expand the sections below to see how we think about this component:

Strategy/Planning

  • Clarify the target market – both demographics and psychographics
  • Assess market needs through interviews, focus groups, surveys, observation, and other means
  • Determine the ideal product/service mix to offer the target market
  • Build or partner to provide a total solution
  • Create core messaging to attract ideal customers

Success Metrics

  • Customer interest level on a scale (such as 1-10)
    • After just telling customers about it
    • After seeing a marketing piece/video of the offering
    • After experiencing the offering first hand
    • After purchasing the offering
  • Net Promoter Score (how likely they would be to tell others about it)

Key Activities

  • Choose and segment target market
  • Interview ideal prospects to determine needs
  • Conduct focus groups with ideal prospects to provide feedback on plans
  • Conduct surveys to get at relative importance of features
  • Observe customers using the offering
  • Determine pricing
  • Seek out partners if needed to complete the offering
  • Create core messaging to attract ideal customers

Processes/Systems

Processes

  • Regular product/market review cycle to assure continued fit
  • Interviewing, running focus groups, and surveying
  • Creating core messaging
  • Pricing analysis
  • Customer experience design

Systems

  • Online survey tool

Fit Product to Market

2-Generate-Awareness