Milestone 1: Market Understanding
The foundation of every successful company is the on-going
understanding of its customers coupled with how its product or
service fits into real or perceived market needs. No Fifth Business
client proceeds beyond this milestone without a comprehensive
response to the question:
How
does your product or service
fit within the typical "day
in the life" of your customer?
Reaching this milestone requires original research, identifying and quantifying
industry trends and analyst driven market sizing
and verification as well as
"thought leader" endorsements.
At this stage we craft and execute
initiatives to help our clients
better understand their market and customers.
In many cases, this is a discovery
process. Clients often recognize
they have been targeting the
wrong audiences and need to shift
their direction or tighten their
focus.
Our "day in the life" approach to market understanding provides greater insight into
the business and creates a strong
Value-Path Marketing foundation.
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