Phase 1: Markets
Find and capitalize on your “sweet spot” in your addressable market.
Marketing resources are scarce and need to be pointed at markets with attractive growth characteristics, and at segments you can win in. If budget and head count is not allocated with precision, marketing will not contribute to accelerating the company’s revenue growth. Demand drivers are changing dynamically making market segments splinter into numerous subsegments. Growth markets stagnate and new growth markets emerge seemingly overnight. This requires a new level of market analysis.
- Market segment definitions
- Market attractiveness criteria
- Market adjacency identification
- Market share
- Total available market
- Market problem analysis (frequency, pain, willingness to fix)
- Product win strategy
With this phase completed, it is time to move on to Phase 2: Accounts.