In the “Markets” tab, we will be identifying what markets your company and its products/services are present in, and will follow this up with the needs of the market segments, and how closely your products meet those needs.
This section will require some critical analysis and honest responses for the plan to be the most value to you, so please ensure that you fill in this section as accurately as possible.
In regards to inputting the data, this section is very similar to the previous section, with 2 Tabs:
Target Markets
- In this tab, you will be aiming to add all relevant market segments via the “New Segment” prompt, and remove any irrelevant segments via the same process used to remove team members. Once Added, all you will be required to do is input the % of your total revenue that this segment accounts for, how you could be more successful in this segment and how well you have addressed this segment
Customer needs
- The Customer Needs Tab follows a very similar process to the Target Markets Tab, but is even more succinct. Here you will be adding/removing customer needs via the same process we have used previously in the plan, and then rating your fulfilment of these needs compared to your competitors.
FAQs:
Is there a limit to how many segments I can include?
- Yes, the system is capped at 12 segments to ensure that the final plan is succinct and “Lean”. Should you be present in more than 12 segments, you may wish to group you segments together.
Do the Potential Revenue (%) fields have to add up to 100%?
- While this not required to complete the final plan,
Are the “Customer Needs” linked to the “Target Markets”?
- No, while both being intrinsic parts of your marketing strategy, these two tabs are not linked to each other, and are expressed separately within the final plan. They are simply grouped together better contextualize the two sections of the plan.
Is there a limit to how many Needs I can input into Customer Needs
- Yes, as we are endeavoring to create the Leanest plan possible, this section is capped at 10 needs.