4.1 Target Market Definition

So, you have decided on your business idea, but now you need to accurately define its business potential and create a startup development strategy. 

The first step in this direction is to determine the target market and research the preferences of your potential customers. 

This is the most important step in building a startup, which allows you to clarify the main circumstances of the future business and, thereby, reduce the risks associated with the perception of your product or service by your potential consumers. Approximately 40% of startups fail because they fail to design a product or service which correspond to tconsumer preferences.

Expected outcomes:

• You will learn how to define the target audience
• Understand the factors that motivate the target audience and learn to describe it.
• Within the practical task you will run the interview and survey of your target audience and based on its results determine the priorities of your startup development.

All this will allow you to reduce the uncertainties of your startup in sales volumes, profitability, pricing strategy and main areas for demand generation.

In order to watch lectures and get access to the practical part, you need to purchase the course