Analyzing the Market Landscape What Do Consumers Want? Joel - - PowerPoint PPT Presentation

www.jlamendola.net @JoelLamendola

STRATEGY AND BUSINESS DEVELOPMENT PROFESSIONAL

Joel Lamendola

Analyzing the Market Landscape – What Do Consumers Want?

“What do consumers want, what is influencing the market, and how are businesses responding?”

Market landscape analysis is a research and analysis activity that turns data into information about potential growth opportunities for your product and business.

s h s

Research and analysis activity on consumers, external factors, businesses (the three market components) Ranges from voluminous dissertation to graphical presentation of key information Can be used to identify growth

• pportunities for your product and

business Provides a structured approach – transforming data to information First step in creating product strategy

Market landscape analysis

The 30 Second Market Landscape Analysis

“Hey, Ya Know What’s a Great Idea?!?”

Pet Rocks

1. What do co consumers want?

• 2. What ex

external forces are influencing the market?

• 3. How are bu

businesses responding? Super easy pets People have less free time; they travel and are away from home Pet sitting services for traditional pets - no direct competition!

Woo, Elaine (April 1, 2015). "Gary Ross Dahl, originator of '70s Pet Rock sensation, dies at 78". Los Angeles Times.

Market landscape analysis

The Characteristics of a Good Market Landscape Analysis

It Includes Market Segmentation of Consumers

Geographies Demographics Behaviors Psychographics

(personality, values, opinions, attitudes, interests, and lifestyles)

Typical ways of segmenting the market by consumer type Segmentation helps categorize similar consumers by need

It Includes Several Sources of External Forces

Politics Government / Policy Raw Materials / Suppliers Climate Economy Technology Labor Pool Typical external forces

Industry Individual businesses Individual products

It Includes a Wide Range of Detail in the Business Component

Typical range of information from big-picture to details

Bringing the Components of Market Landscape Analysis Together Information

Consumer Preferences in Price and Quality

Quality Price

Group 1: “Price Buyers” Group 2: “Quality Buyers”

Basic Consumer Segmentation Graphic

Consumer Expectations

Overlay of “Business Response”

Consumer Preferences in Price and Quality

Quality Price

Group 1: “Price Buyers” Group 2: “Quality Buyers”

Competitor 4 Competitor 2 Co Competitor r 1 Co Competitor r 3

Consumer Expectations

t h s

Market landscape analysis answers the question “What do consumers want, what is influencing the market, and how are businesses responding?” It is a research and analysis activity that presents actionable information based on consumer preferences, influences of external forces, and businesses’ responses to these factors It can be used to identify potential growth opportunities for your business and product

Key Takeaways

Up Next: Identifying Relevant Business Opportunities