3 ms·
Without knowing any more about what you are trying to do, I would just recommend a framework we learned at business school that I keep coming back to. It's for
by tvladeck 8y ago
Without knowing any more about what you are trying to do, I would just recommend a framework we learned at business school that I keep coming back to. It's for when you're looking at developing or altering a product. It's really just a checklist, and it's super simple, but it's effective. Can be tweaked to understand how different brands are attacking a market.
5Cs, STP, 4Ps
5Cs: Just list out a bunch of facts to get acquainted
- Context: what are the wider trends (e.g. millennial habits, etc.). This is where you start wide
- Customer: what 'job' is your customer trying to do? Who could that be? What is your unit of analysis: a person, an occasion, a ___ ??
- Company: what are you good at?
- Competitors: Who else is trying to serve that job?
- Collaborators: Who could be a partner? (Vendor, complementary service, channel partner, etc.)
STP:
- Segmentation: What are the different customer segments? What are the dimensions that make two {people, occasions, etc.} different in a meaningful way
- Targeting: Which are the viable and nonviable segments? Who's your target?
- Positioning: What is your:
-- POP/POD: point of parity/point of difference
-- Frame of reference: who are you stealing share from?
-- Reasons to believe: why would someone believe that you can deliver?
4Ps/marketing mix:
- Product/brand: what is your product? what's it's functionality? what's your brand?
- Price: level and structure.
- Place: distribution channels. Pull vs. push.
- Promotion: where will you advertise? What's your message?