Market Development
- Opportunity Analysis
- Where is the white space?
- 5C’s Analysis
- Is your goal to grow customers (new markets) or $/customer (current market)? (Utilize the growth matrix)
- What is the size of the market opportunity? (making reasonable assumptions)
- Target audience segmentation and recommendation
- Who is your target audience? What other audiences did you evaluate and how did you choose this one?
- Product definition and Brand position
- Determine your current brand position in the market (what is your differentiation v competition) and how does that need to change to grow your market. If it doesn’t, rationalize why not.
- Distribution channels
- Where (or how) will your product or service be sold/reach the market?
- What is the role of your collaborator in the purchase funnel?
- Pricing/Value recommendation
- What is your pricing strategy?
- Prepare a simple Revenue Statement (Revenue, Costs, Estimated Profit OR break even analysis)
- Three recommendations for implementation
- Be Specific. How will you GTM (Go to Market)?