The contents of this chapter include all of the following: Customer/market analysis, evaluate the competition-sample evaluation, prepare the pricing plan, position the product or service, using the internet for market research. | Copyright 2015 Jack M. Kaplan & Anthony C. Warren Patterns of Entrepreneurship Management 5th Edition, Chapter 4 Chapter 4 Customer/ Market Analysis Competitive Analysis Pricing & Positioning Customers, Markets, Competitors in a Digital World Internet Market Research Copyright 2015 Jack M. Kaplan & Anthony C. Warren Presentation Outline Customer/Market Analysis Niche or target markets One to One Marketing Define the Market Segmentation Market Research Evaluate the Competition-Sample Evaluation Prepare the Pricing Plan Position the Product or Service Using The Internet for Market Research Chapter 4 Customer/ Market Analysis Competitive Analysis Pricing & Positioning Internet Market Research Copyright 2015 Jack M. Kaplan & Anthony C. Warren Niche, Verticals and Target Markets A niche market is a small segment of a large market ignored by other companies A vertical market is a specific sector or class of customers that may require different products and/or be acquired through . | Copyright 2015 Jack M. Kaplan & Anthony C. Warren Patterns of Entrepreneurship Management 5th Edition, Chapter 4 Chapter 4 Customer/ Market Analysis Competitive Analysis Pricing & Positioning Customers, Markets, Competitors in a Digital World Internet Market Research Copyright 2015 Jack M. Kaplan & Anthony C. Warren Presentation Outline Customer/Market Analysis Niche or target markets One to One Marketing Define the Market Segmentation Market Research Evaluate the Competition-Sample Evaluation Prepare the Pricing Plan Position the Product or Service Using The Internet for Market Research Chapter 4 Customer/ Market Analysis Competitive Analysis Pricing & Positioning Internet Market Research Copyright 2015 Jack M. Kaplan & Anthony C. Warren Niche, Verticals and Target Markets A niche market is a small segment of a large market ignored by other companies A vertical market is a specific sector or class of customers that may require different products and/or be acquired through different marketing channels Target marketing is a strategy to focus on segments of a market and prepare a plan for each market segment or vertical. Chapter 4 Customer/ Market Analysis Competitive Analysis Pricing & Positioning Internet Market Research Copyright 2015 Jack M. Kaplan & Anthony C. Warren Rogers’ Bell-Curve - Customer Adoption Patterns When introducing a new product or service, you should target customers who are more likely to try something new – the innovators and early adopters. They are usually not price-sensitive. These customers can usually be found and attracted using social media methods. Chapter 4 Customer/ Market Analysis Competitive Analysis Pricing & Positioning Internet Market Research Copyright 2015 Jack M. Kaplan & Anthony C. Warren Identifying Customers--Consider the 4 factors Market Identification--Current market and service needs determined Current and Best Customers--to allocate resources to segment the market Potential Customers--target by geographical or
