Target Segment Selection Framework
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The document presents a strategy and marketing framework describing four market approaches: attack, attempt, innovate, and ignore. Each approach corresponds to market conditions ranging from ripe segments with few competitors to uncertain markets without clear demand. The strategies include capturing market share quickly, offering lower costs, innovating for new needs, and disregarding unclear markets.
Target Segment Selection Framework
- 1. A Strategy & Marketing Framework
- 2. 0 2 4 0 2 4 B U S I N E S S N E E D HAVESOLUTIONS A t t a c k A t t e m p t I n n ov a t e I g n o re Size of the circle indicates the relative size of opportunity in that segment
- 3. A t t a c k This is a ripe market segment with few established players A first mover or fast-second can have distinct advantage here Strategy: enter fast and capture max market share possible A t t e m p t This is a mature market with several established players Significant value addition is needed to target this segment Strategy: Same value of other players,but lower cost I n n ov a t e This is an under-served market with very few players overall Typically,first-movers may be at a disadvantage here Strategy: Innovate to create new needs and radical solutions I g n o re This is an uncertain market, which is not supposed to exist This may be an outcome of innovations done for the previous segment, wherein,solutions were created without proper need identification and only a small set of early adopters bought them
- 4. Madhuranath R © 2013 madhuranath.r@gmail.com