From idea to business idea
How the market supports my business idea
Getting ready for the market
Financing - Profit analysis
Do I need other skills?
Tools & References
Types of customer segments
Mass market
It focuses on a large group of customers without really distinguishing between different types of customers, and aims to satisfy a set of broadly similar needs and problems.
Niche market
It is quite opposite to a mass market, focusing on a very specific group of customers with very particular needs. This segment seeks for a highly tailored product to suit their needs. So, the value propositions, distribution channels and customer relationships are closely defined according to the preferences of this particular customer segment.
Segmented
Segmented market is one in which you have multiple different groups of customers with different sets of needs and problems. In this case, you would provide the same product or service with slightly different value propositions to meet the varying customer needs.
Diversified
This market is similar to a segmented except that it utilizes entirely different sets of value propositions to offer to unrelated customer segments rather than just slightly altering the product.
Multi-sided platforms/ markets
These markets serve interdependent customer segments. For example, a credit card company interacts with both the card holder, and the merchants who accept those cards.
A start-up business cannot always reach all of its potential customer segments on its opening day, so it is important to figure out who your most important/profitable customers will be and focus on that segment to start with.
It focuses on a large group of customers without really distinguishing between different types of customers, and aims to satisfy a set of broadly similar needs and problems.
Niche market
It is quite opposite to a mass market, focusing on a very specific group of customers with very particular needs. This segment seeks for a highly tailored product to suit their needs. So, the value propositions, distribution channels and customer relationships are closely defined according to the preferences of this particular customer segment.
Segmented
Segmented market is one in which you have multiple different groups of customers with different sets of needs and problems. In this case, you would provide the same product or service with slightly different value propositions to meet the varying customer needs.
Diversified
This market is similar to a segmented except that it utilizes entirely different sets of value propositions to offer to unrelated customer segments rather than just slightly altering the product.
Multi-sided platforms/ markets
These markets serve interdependent customer segments. For example, a credit card company interacts with both the card holder, and the merchants who accept those cards.
A start-up business cannot always reach all of its potential customer segments on its opening day, so it is important to figure out who your most important/profitable customers will be and focus on that segment to start with.
