Foundations |
The foundations section includes Market Segmentation,
Buyer Behavior, and Product/Service. The essential questions and corresponding tools can be found below. Tools and models highlighted in turquoise lead to an external link for more information. |
Market Segmentation
Essential Questions• What are we trying to learn from this?
• Do we need to segment? - Why are we segmenting? - How clumpy is the market? - How many segments do we need? - What are the major characteristics and needs for each segment? • What are the best approaches to reach this segment? - How do we segment this market effectively? |
Tools/Models• ANSOFF Product Grid
• Segmentation Model |
Buyer Behavior
Essential Questions• How do we achieve loyalty?
• What do you really want to know? • Have you heard of our product? • How are they going to consume our product? - Where and when do you buy our product? - How do you use our product? • What do you like/want to improve in our product? • How do we attract you to use our product? - What degree of involvement goes into the buying decision? - What info search and sources are available/used by potential buyers? |
Tools/Models• The Purchase Decision Process
• Hierarchy of Needs • Perceptual Map • A.I.D.A. • Buy-Grid Model |
Product/Service
Essential Questions• What are we selling?
- What is the core essence of our product? - What is the need being met by our product? - What changes can be made to make our product more appealing? • How do we differentiate our product? • What technique do we implement with our product when it hits the maturity stage? • What value is added through our product? - Can our product be easily substituted or replaced? • How many product lines do we offer? - Why do we offer multiple product lines? - Do we need multiple product lines? |
Tools/Models• Diversification Analysis
• Product Life Cycle • QFIST • ANSOFF Product Grid • Porter Maturity Stage Model |