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Module 2

The document outlines Module 2 of a Technopreneurship course, focusing on customer and market identification, segmentation, and niche markets. It details four types of markets: existing, new, re-segmented, and clone, along with strategies for market sizing and creating customer personas. Key concepts include understanding customer needs, evaluating market segments, and effectively communicating with target audiences.

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8 views

Module 2

The document outlines Module 2 of a Technopreneurship course, focusing on customer and market identification, segmentation, and niche markets. It details four types of markets: existing, new, re-segmented, and clone, along with strategies for market sizing and creating customer personas. Key concepts include understanding customer needs, evaluating market segments, and effectively communicating with target audiences.

Uploaded by

s.rfpmallari
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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UNIVERSITY OF SOUTHERN MINDANAO

Technopreneurship
ES 223
Module 2
Module 2: Customer and
Market
• Market Identification
• Customer Segmentation
• Carving a Niche
• Market Sizing
• Customer Persona

Customer and Market 2


Lecture 1: Market Identification

ILO 1: By the end of the learning experience,


students must be able to:

✓Identify the market type venture

Introduction to Technopreneurship and Entrepreneurship 3


Module 2: Market
Identification
“Gauge the market demand”
- To estimate market demand, you need to identify
which kind of market is your start-up going to
operate in.

FOUR MARKET TYPES


1. Existing
2. New
3. Re-segmented or Niche
4. Clone

Customer and Market 4


Module 2: Market
Identification
1. Existing Market
• Competitors exist
• Customers want and need better performance
• Technology is usually the driving factor
• The positioning is driven by the product and how much value
customers place on its features
• The risk is to think that competitors are dumb or too slow
• There is no "chasm" that you need to fill. The chasm is the gap
between early adopters and the mainstream customers in a market.
E.g. A venture trying to set up an e-commerce site
like Amazon is trying to enter an existing market

Customer and Market 5


Module 2: Market
Identification
2. New Market
• Customers do not exist in the present, so revenue generation
takes years
• Market size is zero
• Customers need to be made aware of their needs
• You must consider what factors can you create that have never
been offered
• The chasm is biggest here because you will only be selling to the
very early adopters
• E.g. SpaceX

Customer and Market 6


Module 2: Market
Identification
3. Re-segmented Market
- is a hybrid between a New market and an
Existing market in the sense that it is a New
Market created from a small segment of an
existing market.
• Low cost
• New Niche

Customer and Market 7


Module 2: Market
Identification
3. Re-segmented Market
• Evaluate factors that your industry has long competed on and
eliminate those
• Evaluate what factors can be reduced well below the industry
standards
• Evaluate what factors can be increased above the industry
standards
• Evaluate what factors can be created that have never been offered
• There is a bit of a chasm in this type of market
e.g. Southwest Airlines took on the airline industry
by bringing up the traditional hub-and-spoke model
and providing just very limited services but for an
extremely low price.

Customer and Market 8


Module 2: Market
Identification
4. Clone Market
- you are going to localize all those specific issues for
your country or region. That said, it takes a foreign
business model and adapts it to local conditions.
There are no competitors if you are the first one and
the risk may be in misjudging the local needs.
Eg: Most countries have a local version of Uber
today and they have tried to clone the business
model by making suitable adjustments for local
conditions.
Customer and Market 9
Module 2: Market Segmentation
and Niche Market

ILO 2: By the end of the learning experience,


students must be able to:

✓Segment Customer and Identify Niche market

Market Segmentation and Niche Market 10


Module 2: Market
Segmentation
Market Segmentation
- is the practice of dividing your target market
into approachable groups.
4 Basic Types:

Market Segmentation and Niche Market 11


Module 2: Market
Segmentation

Market Segmentation and Niche Market 12


Module 2: Market
Segmentation
4 Basic Types:

Market Segmentation and Niche Market 13


Module 2: Niche Market
Niche Product Examples

Key questions to ponder:


• From the market segmentation–which slice would you like to own?
What is your niche?
• How are the needs of your Niche different from the rest of the market?
• What is the size of your Niche?

Market Segmentation and Niche Market 14


Module 2: Niche Market
Identifying your Niche
- focuses on a micro-segment of the market.
1. Understand what prompts customers to want
to buy products/services.
2. Develop a mental picture of your customers
3. Acquire focused knowledge about your
market

Market Segmentation and Niche Market 15


Module 2: Niche Market
Rules in Niche Market
1. Meet their unique needs
- What can you provide that's new and compelling?
2. Say the right thing
- understand the market's "hot buttons" and be
prepared to communicate with the target group as
an understanding member- not an outsider.
3. Always test-market
- assess the direct competitors you'll find in the new
market niche and determine how you will position
against them.

Market Segmentation and Niche Market 16


Estimate Market Size

Market Sizing 17
Estimate Market Size

Market Sizing 18
Customer Persona

Customer Persona 19
Customer Persona
• Innovators - They are these buyers who love to
have innovative products. They are seeking this
all the time and it is part of their lifestyle.

• Early adopters- appreciate innovations and are


ready to adopt new products even if they are
perfect or not developed from a technical point
of view.

Customer Persona 20
Customer Persona
• Early Majority& Late Majority – Innovative
technology is not the key for making their
decision. They are driven by analysis of different
standard factors such as Price, quality, need, etc.

• Laggards - They are the last to adopt an


innovation. Unlike some of the previous
categories, individuals in this category show little
to no opinion leadership. These individuals
typically have a version to change-agents.

Customer Persona 21
Customer Persona
• How to create a Persona?
- through customer conversation

Customer Persona 22
Assignment 1

Customer Persona 23
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End of Topic

Thank you
Customer and Maarket 30

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