Brainstorming Steps to Uncovering the Needs of an Underserved Market
- Step 1: Pinpoint a problem that your business can address. ...
- Step 2: Focus on the customers the industry has overlooked. ...
- Step 3: Identify the unique attributes and values of that market. ...
- Step 4: Research the Competition.
How do you know if a market is underserved?
5 Steps to Find a Need in the Market
- Understand the Jobs to Be Done Theory. A good starting place for identifying underserved needs is by examining the market through the lens of the jobs to be done framework. ...
- Be Introspective. ...
- Conduct Interviews. ...
- Identify and Examine Competitors. ...
- Be Ever-Observant.
How do I find an underserved niche?
Business owners should find a niche in their industry that has underserved or unmet needs. To find your niche, follow this strategy: Select your target audience, define an unmet or underserved need, research your customer base, create your business plan, and market your business to your specific audience.
