[MUSIC] Neptune. I'm so, so excited with this product. As I was telling you yesterday, it feels very important meeting in the market, but I really don't know how to start, how to find my target, or whatever is needed. And I know you're an expert in marketing, so could you please give me some tips or help me? All right. >> [LAUGH] >> Okay, so in this case we have a product, okay? A proposition we have come up with again. And now what we have to do is we have to look for a target group that we think would use this product, okay. So of course, you've done a market assessment. You've done an analysis of context, competitors, etc. And now what we're going to do is we're going to take that mass market thing that we're thinking about and we're going to [INAUDIBLE] specific [INAUDIBLE]. So, Christina, what we are trying to do here is what we call a market segment feature. So as you can see, we are dealing with a very, very large market, and what we're going to try to do is split the market into different market classes, or different customer profiles, what we usually call segment. We can identify looking for market segments, and what we're going to do is we're going to choose one of them. We're going to prioritize that segment when reaching out then and commercializing the new product, you have to decide. >> Okay. >> And what we're going to do because the product seems quite appealing, we need to prioritize who we're going to deal with, is, we're going to do market research. So, let's suppose on this thing we conduct our market research, and we get [INAUDIBLE] for you because we have identified that [INAUDIBLE] women to thirty-years old with a high level of [INAUDIBLE]. Actually, there are women that like to take care of themselves and they're very social. They're very receptive to this product, okay? [INAUDIBLE] We try [INAUDIBLE] and it seems very, very appealing to them. This is actually providing them something which is not available on the market. I have more good news for you, because the market research is actually telling us that not only are they going to be receptive, but they're also willing to pay a premium price. In this case, what we are doing is we are doing two thing. Okay, we start with [INAUDIBLE] proposition. And we look for a market segment [INAUDIBLE]. This is actually what we do in positioning, combining what we can offer to who are we going to offer it to. [MUSIC] [SOUND] Hi. The previous example, we covered one of the potential approaches towards segmentation. As you might recall, we started with a value proposition with a product, and what we did is developed for a target group that would be a decoy for that. What we are going to do now is we are going to [INAUDIBLE] the second approach that you could take towards positioning, which is starting with a well-defined target group. And you have to understand their needs, their pain, end points. And once you have that insight, what you are going to do, you're going to come up with a product with another proposition, which is going to be deferred. Sure, it's going to be unique, it's going to be real and for that, not a good year. Let's take this example because today I'm here with a students. They have one kind of thing in common, which is that they are left-handed. Let's see the kind of struggles they are going with. >> Yeah, but the worst are the one that have the thick spirals and you cannot put your hands in it, or the scissors. >> Or the scissors or the can openers that are impossible to function with your left hand. >> Or the game pack controllers. >> Yeah, and when you go into a restaurant and you're sitting close to someone and you're the whole time hitting your elbow, it's kind of hard. >> Yeah, and I know it seems silly but on the cars, the cup holders are always on the right hand side. >> Wow, that's amazing, I would have never felt about that. That's a very interesting insight. That's good, because I have [INAUDIBLE] who are [INAUDIBLE] They're very, very creative, and then [INAUDIBLE] because most likely, based on this input, they can do more market research. And I am pretty confident it will kind of [INAUDIBLE] with that. So this is the second approach that we can take with coming towards With positioning, okay? In this case, as you see, we started with a clearly defined target group. We did some research. We understood their pain points, and based on that, we are going to speak to our product development people and ask them to come up with a valuable proposition that will be differential, and help in this case, the left handed people we are dealing with. So, this is going to be the end of this introduction. So we're switching again. There are two different ways we can approach it. Okay, we can start with value proposition, and then move into the target group, which is going to be a for that, or the other way around. We can start with a well defined target group, and finalize with a value proposition. In the next videos, what we're going to do is you're going to explore more in depth all these concepts. And we help you with very practical tools to cope with that in real life. Thank you very much, see you soon. [MUSIC]
