It’s time to put what you’ve learned into practice!
There are three challenges to complete for this lesson that will help you understand where your business fits in to the market and who you’re trying to reach with your product/service/idea:
- STEEP analysis
- Landscape of players
- Target customers
Challenge 1: Complete Your STEEP Analysis
Do some careful research to identify top trends that may impact your business. Use the two-by-two framework below to map these out and then zero in on the trends that will have the highest potential impact on your business idea/product/service.
Challenge 2: Identify Your Landscape of Players
Using your library research and what you’ve learned about your industry (see Hitting the Library), fill in this Landscape of Players worksheet, listing the potential players in your industry.
Landscape of Players
Challenge 3: Discover Your Target Customers
Now that you’ve got a better understanding of your market, you now need to think about who you want to reach with your business. Use the worksheet below to brainstorm customer groups and then select the one you want to know more about and give reasons for that choice.