Market Orientation & Segmentation - Paige Arnof-Fenn
Paige returns to the podcast to discuss how smaller businesses and start-ups can do research to see their business from the point of view of the customer, before segmenting the market.
Before founding Mavens and Moguls, a network of seasoned marketing professionals, she worked in organisations like Procter & Gamble, and Coca Cola, as well as for early stage businesses like Zipcar, Inc.com and Launch Media. She holds an MBA from Harvard Business School and Harvard featured her business as a case to teach MBA students how to start a successful business.
In this episode, Paige shares some strategies for better understanding the customer you want to serve, in terms of what motivates them to buy. We cover:
- Some online methods to understand the market
- Considering who might be your ideal client
- Ways to understand what the market wants
- Listening tour as a way of touching base with your audience
- How Paige helps her clients
- How to approach people so they don't fear being sold to when doing market research
- Different ways to segment your market — demographic data, psychographic data, behavioural data, geographic data and life stages