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What problem(s) does your target market need to solve? <back>
To gather this information, you may want to consider the following resources:
- Trade / Industry Journals, Magazines, Newspapers
- Industry Analyst Reports on companies and industries
- Case studies on the web sites of competitors
- Conducting Focus Groups—Although we are not a strong proponents of focus groups, people like to use them to gather information on market needs.
In our experience, many people do not know how to run focus groups properly so that the results are not heavily influenced by group dynamics. Quite often, viewpoints get changed and distorted by the viewpoints of other people in the group.
There are people that may try to dominate the room and persuade others to take their view and quiet individuals may feel intimidated. If you run a focus group, you need to be careful that group dynamics are not mistaken for market dynamics.
Read Six Thinking Hats by Edward Debonofor to get ideas on how to reduce the effect of group dynamics in order to get results.
- Surveys Results—Survey your target market to understand their problems and needs.
- Networking—Have conversations with prospects and customers about their businesses.
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