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How to define the market and ideal customer profiles

1 hour

Waymaker Academy

Course overview

In today’s digital age, where billions of people can be reached with a click, understanding your target market has never been more crucial.

This course delves deep into the intricacies of identifying, defining, and focusing on your specific market segment. Drawing inspiration from ancient trade routes to modern-day digital pathways, we explore the importance of clarity and focus in determining whom you serve.

By the end of this course, participants will have a comprehensive understanding of market dynamics, the significance of brand perceptions, and the tools to define their ideal customer profile.

Learning outcomes

  1. Historical Context Understanding: Recognize the evolution of market identification from ancient trade routes to the digital age.
  2. Clarity and Focus: Understand the importance of clarity in identifying your target market and the benefits of a focused approach.
  3. Brand Perception: Learn how brands mirror their target audience and the significance of clear vs. fuzzy brand reflections.
  4. Market Definition Tools: Utilize the Waymaker Market Canvas and Clarity Statement to define and refine your target market.
  5. Ideal Customer Profiling: Dive deep into the characteristics, problems, impacts, and solutions related to your ideal customer using the Ideal Customer Canvas.
  6. Value Drivers Identification: Understand the four primary value drivers – design, customer experience, social, and economic – and how they influence customer decisions.
  7. Perception Building: Recognize the perceptions you need to build in the market and the strategies to align them with customer needs.
  8. Divergent vs. Convergent Thinking: Understand the principles of design thinking and how to apply them in market identification and customer profiling.
  9. Practical Application: Apply the knowledge gained to real-world scenarios, using examples like B&W Electric Vehicles, to solidify understanding and practical application.
  10. Continuous Improvement: Learn the importance of feedback, both from internal teams and customers, to refine and improve your market focus continually.

By the end of this course, participants will be equipped with the knowledge and tools to accurately identify their target market, understand their ideal customer’s needs and desires, and build a brand that resonates with them. This will empower businesses to create more effective marketing strategies, improve customer satisfaction, and drive growth.

Waymaker Academy is open to all users of Waymaker, even if you do not have an app license yet.

To get started, choose a course, if you don’t have a user ID, you can create one and use that when you enter other courses.

If you want to see your badges and certifications against your profile in the Waymaker App, then ensure your Academy and App email are the same. All courses can also be accessed from main menu in the app.

MARKET FOCUS

1 hour

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