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Understanding Market Opportunities & Consumers

9 out of 10 startups will fail. 42% identified the 'lack of a market need for their product' as the single biggest reason for their failure.

Who are the different types of consumers in the market and how do I target them with the brands in our portfolio? Can we go beyond the standard lifestyle segmentation that is less actionable for me?

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PRISM™

PRISM™, Acorn’s hybrid segmentation model profiles the market psycho-graphically, attitudinally and demographically to understand segments’ motivations and effectively target them. We profile their behavior in terms of values / beliefs, attitudes, behavior in relation to the product category.

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For each segment we profile key occasions where they use the product, identify the need state for each of these occasions and

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prioritize segments by potential / size of these occasions / needstates. 

Benefits: 

 

  • Determine positioning of key brands vis-à-vis competitive set

  • Identify the segment / needstate in which to position your product 

  • Develop a strategy for targeting each of the needstates.

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