Words-of-Wisdom: Target and Benefits

target-and-benefits

What market segment is this product in?: Simply name the market segment that this product falls into. If you cannot name the market segment, then you probably do not know enough about the overall market yet. If your product bridges two market segments, list them both. If your product is so novel that it does not fit any existing market segment, name a new market segment using a combination of terms that describe current segments, or choose the market segement that your potential customers will think that your product falls into (until the learn more about it).
What is the target market for this product?: Define the population of potential customers.
What is the size of the total available market?: Estimate the size of the population of potential customers in terms of number of customers or total dollars. Estimate the entire market, including customers currently served by competitors, but do not count customers who could never buy your product.
What are some other customer options or leading products that address the same needs?: List your competition and other alternatives that portential customers have.
Benefits: Consider the sample text describing types of benefits to customers. Add, edit, or delete benefits to fit your product.
Potential Downside: Consider the sample text describing potential downsidest to customers of this product. Add, edit, or delete downsides to fit your product.

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