Jumbo Cafe "Deep Dive" Series: Market Sizing and Analysis
Feb 3, 2021, 12pm EST
This workshop is part of the Tufts Entrepreneurship Center "Deep Dive" series. If you are passionate and want to make a difference, but you have not worked on innovation and entrepreneurship projects before, these workshops will kick-start your entrepreneurship journey. You can join this event even if your schedule doesn't allow you to attend all seven in the series!
Understanding the market and customer is key in defining the scope of a new venture. There are two parts to this process: First, we need to define the market, come up with a segmentation framework, pick a beachhead market segment to start with, and conduct a quick market sizing and analysis exercise to make sure the chosen segment is big and impactful. Second, we need to build a deep understanding of the target customer through primary market research, utilizing a range of qualitative and quantitative research techniques. This starts with defining an end-user profile who is the proto-persona of your primary end-user in your chosen beachhead market.
This workshop focuses on the first part of the puzzle. We will review the basic principles of behavioral market segmentation and explore selection criteria for choosing a beachhead market to proceed with. You will have an opportunity to apply what you have learned in interactive exercises. You will emerge from the workshop with the start of a segmentation matrix, beachhead market selection, and end-user profile, together with a set of templates that will help you continue to work on these foundational exercises on your own time.
Location Details: Virtual