The Big Think Revenue Generator™
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
