Product Management For Dummies by Lawley Brian & Schure Pamela

Author:Lawley, Brian & Schure, Pamela [Lawley, Brian]
Language: eng
Format: epub
ISBN: 9781119264033
Publisher: Wiley
Published: 2017-01-05T00:00:00+00:00

Part IV: Segmentation

Segmentation (which we discuss in Chapter 5 ) is a critically important part of your market strategy. In this section, you describe the segmentation strategy for the company, and how it supports selling your product to your chosen market segments. By answering these questions, you clarify who you are selling to and how, very specifically, they buy your product. Use your segmentation information to answer the following questions:

Does your product/solution target a niche, or does your solution provide coverage for everyone in the market? As an example, if you open a fast food restaurant, you could target a niche market with vegan food or provide coverage for almost anyone and anywhere the way McDonalds does. Does the company have a full portfolio of products the way a department store provides bedding products at a range of prices, or does it specialize in specific segments like high end bedding boutiques?

What are the size and growth attributes of the given market segments?

How does each target market segment buy? Do customers buy direct or through a channel? If so, which channel partners are best to reach your target markets?

Is the buying cycle seasonal? If so, describe it. What is the average length of the sales cycle (more about this in Chapter 15 )? What are the key selection criteria for the sales decision? Are there any deal killers in being able to complete the sale?

Is the buying decision made by a technical decision maker, a financial/ business decision maker, the channel representative, or outside consultants? Check out Chapters 5 and 11 for more information about defining different kinds of decision makers.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.