Focus... Get Right Customer

Highly successful companies base their business plans on the market. They study market segments and carefully choose which ones to compete in, looking for the most suitable dominant Tier 1 customer in a particular segment—the Right Customer.

The Right Customer’s product requirements are the ones to zero in on. If the dominant customer buys the product/solution, the Tier II customers are more likely to jump on the bandwagon and buy it too.

Derive product requirements from a Tier II customer, and the product will likely appeal only to the Tier II customer, and end up capturing a small share of the market—if any. Fast teams have methodologies that help focus on the Right Customer:

Engage with customers directly to define and develop the product

Analyze market segments in-depth to position products precisely

Put the emphasis on finding and meeting customer requirements, rather than letting the product’s potential capabilities drive the process.