Contrary to popular belief, having plenty of competitiors is a good sign – that's what makes a thriving market. This learning stream delves deep into the competition, with strategies for identifying and evaluating competitors and classifying them to discover where opportunities lie to fill gaps in the marketplace.
Great companies know and cater to their audience with laser-like focus. Using the tools in this learning path, you can hone in on the right market with confidence, project the potential size of your customer base and forecast how quickly it will grow, based in part on the industry trends most relevant to your business. And because competition is a vital component of a viable, active market, we give you strategies for defining, assessing, and positioning against other companies in the space.
Catching a trend on the upswing can give your business launch added momentum. This learning stream gives you the tools to capitalize on trends while steering clear of fads. The session covers top trends affecting businesses worldwide and in specific sectors, and points you to definitive sources for uncovering trends relevant to your business.
A competitive matrix is more than a pretty picture. By highlighting your unique strengths vis a vis other players in the space, you gain a greater understanding of your market, and a valuable marketing tool. Learn how to select and plot relevant strengths, and how to identify and evaluate competitors, in order to position your business as a market leader.
When sizing your potential market, it's tempting to say the sky's the limit – but if your goal is an accurate projection, tighten the focus until you have a clear and specific picture. This learning stream introduces the market funnel framework, a three-step process for defining your target audience and sizing segments in terms investors can use and you can apply to your financial plan.