Clearly Identify a Market

For a product or service to have commercial potential, it must have a market. In this context, by ‘market’ we mean an identifiable group of potential customers for whom the measurable rewards of making a purchase outweigh the continued ‘pain’ of not doing so.

The challenge for our clients is to have a very clear understanding of this intended market.

CTM has developed and refined a technique we call market mapping. Using research and combining the information you already have, we will rapidly create for you a detailed understanding of the current structure of your intended market, including;

• The key characteristics of your ideal customers
• The important existing suppliers, potential partners and competitors
• The current relationships between them
• The main rules that govern the operation of the market
• Any ‘windfall’ opportunities that exist to make sales

To be sure your strategy is correct and that you are wisely allocating resources, you must have this information about your intended customers. Otherwise you are operating partly in the dark.