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Qi3 - Sales and marketing support for growing businesses

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You are here: Home / Services / Qi3 Rapid Market Prototyping™ / Example Rapid Market Prototyping Project

Example Rapid Market Prototyping Project

Phase 1

Identify Target Markets

1.1

Project Kick-off  Re-confirm goals and objectives

Incorporate your feedback & materials

Clear definition of your product and service capabilities

Review Qi3’s internal Knowledge Bank and identify all relevant information

1.2

Broad Evaluation to Rank Potential Target Markets  Conduct 3 telephone interviews per market to identify drivers for adoption

barriers to entry

market needs

competitor activity

product requirements

Desk and internet market research to characterise markets

Gather further inputs, including joint brainstorming

Understand how or if your value propositions need to be tailored for each market

Rank target markets in priority order

1.3

Review Findings and Agree Next Stage  Review meeting Discuss findings

Agree target markets

Agree action plan for Phase 2

Phase 2

Deep Dive Research & Target Market Prioritisation

2.1

Deep Dive Market Research for each Target Market  Research market sizes & growth rates

Test market opportunity in detail by conducting telephone interviews with 10 potential sales prospects

Identify drivers for widespread market adoption

Understand buyer ‘hot buttons’ and objections

Analyse competitive position

Assess differentiation

Fine tune list of early adopter sales targets

Assess channel sales options

2.2

Synthesis  Synthesise market findings and data

Articulate your value proposition for each vertical market

Review sales prospects’ feedback from telephone interviews

2.3

Review Findings and Agree Next Phase  Review meeting to discuss findings

Discuss early sales prospects and action plan for each

Agree order of vertical markets entry

Agree action plan for Phase 2

Phase 3

Driving Market Entry and Sales Growth  (Work Package per Vertical Market)

3.1

Develop ‘Skeleton’ Go-to-Market and Sales Plans  Adapt Product Specifications for target market (where appropriate)

Agree market-specific value proposition

Tailor marketing materials (where appropriate)

3.2

Deepen Target Market Engagement  Develop list of additional sales prospects to contact

Use market research as a covert selling tool

Identify and contact market opinion leaders

Identify potential beta test sites

Build scalable sales plan

3.3

Accelerate Sales Engagement  Qualify existing sales prospects

Identify additional sales prospects

Help you close your first sales prospects

3.3

Review Experience and Firm-up Go-to-Market & Sales Plans  Review lessons learned and sales experience

Fill in knowledge gaps where necessary with additional market research

Update Go-to-Market Plan, Sales Plan and marketing materials

3.4

Embedding the Target Market Plan in your organisation   Brief management on go to market execution plan and sales plan

Drive sales activities

Define channel partner programme

Help with relevant sales training

Hand-over to your staff

  The work package can be repeated to evaluate and penetrate further vertical markets.

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