Important Questions That All Startups Must Ask
- In order to succeed, a new firm must address this important issue: Who are our customers are how will we appeal to them?
- A well-managed start-up approaches this query by following a three-step process:
- Segmenting the market.
- Selecting a target market.
- Establishing a unique position in the target market The Process of Selecting a Target Market and Positioning Strategy:
Product Attribute Map—Illustrates a Firm’s Positioning Strategy Relative to Rivals:
The Four Ps of Marketing for New Ventures:
