Very simple concept here, yet very helpful! I don’t have a lot of business experience, and this video helped me realize how important it is to not only go through the process of market segmentation, but to start off with a smaller and easier target market. I initially assumed we should start off with the biggest segment. However, as mentioned, all businesses have limited resources. I think both small and large businesses fail to recognize that it’s better to start of small, and work your way up. Thanks for posting this video!
@ryanhobbs69998 жыл бұрын
ASU Venture Devil here. This Beachhead market really helped open my perspective up to achieving near-term goals. Not only that, It helped me realize what those nearby targets are. I feel like I really bit off more than I can chew alone in this venture. My business targets a solution to a very big problem, and that solution seems to be farther and farther downstream. That may be my saving grace, in disguise. Working on such a big target means that the competition is enormous. If I took an effective swing, at once I would be taken down and absorbed by stronger competitors. By aiming for one beachhead market at a time, I can begin to count small victories and build up my forces long before I have to show the competition my logo is on the scene.
@briancarter655 Жыл бұрын
You would be interesting to chat with. I think professors have in-depth knowledge but the marketplace always has something going on. Market research and alignment contribute to the perception of value prop.
@Sal-js5vk3 жыл бұрын
What is the difference between beachhead market and target market
@ryanhobbs69998 жыл бұрын
ASU Venture Devil here. The beachhead market is a concept often missed even after ventures are investigating their customers. The beachhead market is the customer segment that conforms to the 7 key rules outlined on the Business Model canvas. MIT alludes to this when he is describing the strategic positioning of that "low hanging fruit" that will open doors to expansion. "My market is everybody", is one of the most common and frustrating phrases heard in ventures because there is no way that even General Motors can deliver a single product today to "everybody". That phrase demonstrates a lack of thoughtful strategic planning and a wholehearted delusional fantasy on the part of the entrepreneur.
@FUNKYJU1CE6 жыл бұрын
Very clear and concise!!!
@ptsanche6 жыл бұрын
Thanks, very useful explanation
@monotheist.. Жыл бұрын
easiest market to capture growing market big mass market growing market make enough cashflow they willing to pay you low hanging fruit but can make enough cashflow make positive cashflow market willing to pay can pay we can serve market maximally every step being served low hanging fruit can be serve maximally u understand soo much can be reach easely