||Everyone loves Facebook, and so does Joe. He’s a financial analyst in an investment banking firm having a penchant to startup a business and he’s on the lookout for the right opportunity to offload his life savings into his dream business venture. Joe’s gung-ho about some of the social networking sites and is a happy consumer of Facebook, to the extent that nearly a third of his waking hours are spent on this socio-site. One day Joe had his ‘eureka’ moment: why shouldn’t I startup a business like Facebook? . He did the math and realized that Facebook makes more than a billion dollars every year and even if he were to be the “second” best amongst the social sites in the world he would make atleast half that number in less than 5 years’ time. Joe is excited about his new-found idea and quickly browses the internet looking for an Indian IT company that will create a different looking copycat social site for him. Just like Facebook.
Joe picks Stylusinc as a potential solution partner. How would we at Stylusinc go about engaging someone like Joe?
We start by asking him some routine questions about the social web market :
…We found that companies like Qzone, Habbo ,Twitter and MySpace are websites like Facebook and have more than 150M registered users. Have you considered these companies as your competitors?
…which demographic or psychographic profiles are you targeting for your social network?
….What will be the unique selling proposition of your social network?
|When do I opt for Stylusinc’s Market Landscape Analysis?
- When you’re thinking of expanding your business into new markets
- When you have the investment ready for your business idea
- When you’re customer starts comparing you with competition
- When you’ve been to an industry conclave and get signals that “things are changing under the ground”
- When you sense the need better understanding of your target audience
- When you need help with your“elevator pitch” with potential investors
A quick market scan reveals that in the face of Facebook’s dominance, most social networking sites are embracing a ‘double niche’ strategy – focusing upon clear customer segments and service categories. LinkedIn , for example, targets professionals aged 30-55, and offers professional and career networking services. Hi5 is becoming a specialist gaming network aimed at the 16-29 audience. How would these data shape your market strategy for launching your social network into the market?
Joe may not know the answers to such questions right away but Stylusinc helps him find them.
Stylusinc helps you see the market landscape with clarity and make informed decisions based on crucial market information for your product launches, targeted messaging, new market strategies, etc. Stylusinc provides the following services under the Market Landscape analysis for our clients:-
- Competitor Analysis
- Primary Data analysis*
- Demographic surveys
- MBTI psychographic surveys
- Persona research
- Persona creation
- Secondary Data Analysis
- Industry Trends study
- Market study
- Search Engine Keyword study
- Market Segmentation
- SWOT Analysis
- Inferences and Recommendation**
Through our Market Landscape analysis we give you that “outside-in” perspective to help you know your market inside-out. We offer a range of other services through our unique
approach whereby we ensure that we make business sense by helping you get a sense of your business.
* Stylusinc aids in creating targeted, objective and measurable questionnaires and also in the analysis of completed questionnaires. However Stylusinc does not undertake survey administration and collection services
** Stylusinc also value-adds on existing internal reports or studies done by assessing and making recommendations based on verified data.