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MARKET & COMPETITIVE INTEL
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Our Approach to Market Segments:

We evaluate attractiveness of Market segments based on these three primary factors:

1. Historical adoption of similar products

2. Trends - recent adoption of similar products

3. End user base

Based on the above, we get information on the most attractive Countries, Industries and Company size segments.

Additionally, we can answer specific questions such as:

- How attractive is the startup segment in Western Europe for a product like ours?

- Is it worth targeting mid-size Retail companies in North America?

Using similar products versus whole product category approach:

There are two ways of evaluating market segments:

1. Evaluating market segments based on the whole product category. This shall include products which cater to very different segments than ours, and may have product features which are much different than ours. 

2. Evaluating market segments based on similar products i.e. products similar to ours or similar to where we see our product reaching in the near term. This shall include products which cater to same or similar segments like ours, and have product features which are similar to ours.

From the above approaches, we adopt the Approach number 2 mainly because it restricts us to market segments that are addressable by our product now and in the near term, as opposed to Approach number 1, where market segments are more a reflection of the overall product category.

We identify market segments with high potential - both historically and the ones in high growth now.

Competitive Intel:
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Market segment analysis of competitors:

For each of your current or future named competitors, we find for each of them - their strong market segments of adoption. For each competitor, we find the countries or regions, industries and company size segments where they have a large concentration of clients.

We now take a unified view of two distinct sets of market data:

1. Market segments we identified as being attractive

2. Market segments where each of your named competitors is strong

Next up, we would need to understand which of the competitors is strong from a user satisfaction perspective. This would give us a judgment on which competitors are:

1. Too strong - should ideally avoid competing with them proactively

2. Moderately strong - we could avoid trying to replace them as incumbents. however, we could effectively compete with them in a competitive situation

3. Not adequately strong - we could effectively compete with them in competitive situations, as well as try to dislodge them where they are incumbent vendors

Combining the above, we shall get:

1. List of attractive segments

2. List of segments where competitor penetration is high and are hard to compete with

3. List of segments where competitor penetration is high and are relatively easier to displace

We identify market segments where each of your named competitors is strong at.

We assess strengths and weaknesses of each competitor based on user reviews to identify competitors we can compete with, competitors we can displace and competitors we should avoid competition with.

Based on a unified analysis of attractive market segments and market segments worth pursuing or avoiding based on competitive analysis, we can conclude on the market segments which should make up our ideal target market.

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