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Understanding the market allows you to target promising market segments which suit your strengths.
Who are the users of products or services like yours?
For example, a pet product company might use three levels of segmentation: pets generally, type of pet (ie. dog), and breed (ie. Labrador). The corresponding products are feeding dishes (for all pets), dog leads, and a Labrador video.
So what do the users value most in products or services like yours?
And how can you reach the customers? Or, put another way, how do your customers purchase your product or service?
What size is the market? Is it expanding or declining? What are the key trends?
What is the competition doing?
And lastly, what other factors influence your business environment?
Market Route Mapping can help you develop and market your business. To find out how, please contact Market Route Mapping to arrange a FREE consultation.