Market Validation Tools by RISE

Market Validation Tools

Course duration: 1 day

Level 1: Basic – For those new to the topic, offering foundational knowledge and skills.

Course Background

Startups will gain a deeper understanding of the target customers and develop ideas to reach and engage with them effectively to find out pain points, gaps of the market, and size of the market. This would help startups validate their business idea and determine its viability in the marketplace.

Objectives

• Identifying Your Target Customers

  • How do I define my target customer?

  • Developing my customer personas

  • How to conduct (preliminary) customer research?

• Assessing the Market Size and Competition

• Learning what are Total Addressable Market, Serviceable Available Market, and Serviceable Obtainable Market (TAM, SAM, SOM)

• Case studies of TAM, SAM, SOM

Learning Outcomes

• Define target customers using market validation tools for demographic, psychographic, and behavioral insights.

• Create customer personas through market validation techniques for a comprehensive understanding of customer needs.

• Conduct preliminary customer research with market validation tools to gather insights into behaviors and preferences.

• Evaluate market size and competition using TAM, SAM, and SOM concepts, supported by case studies.

• Apply market validation tools to refine strategies for specific market segments and optimize offerings.

• Leverage insights to adapt and tailor products/services based on a deep understanding of market dynamics.

• Implement A/B testing and experimentation methods for refining customer personas and market strategies.

• Collaborate in practical exercises and discussions to address challenges related to target customer identification and market assessment.

Who should attend?

• Entrepreneurs and Startups: Learn how to effectively use market validation tools to assess the potential success of their products or services.

• Product Managers: Gain insights into utilizing market validation tools to refine and validate product concepts.

• Marketing Professionals: Understand the role of market validation tools in crafting targeted and effective marketing strategies.

• Small Business Owners: Discover practical techniques to validate market demand and refine business strategies.

• Investors and Venture Capitalists: Learn how entrepreneurs use market validation tools to strengthen their investment proposals.

• Business Analysts: Explore tools and methodologies to assess market viability and make data-driven business recommendations.

• Students in Business and Marketing: Acquire practical skills in using market validation tools as part of their academic and professional development.

• Anyone Exploring New Business Ventures: Individuals interested in launching new products or services who want to validate market demand and reduce business risks.

What to bring?

Laptops / Tablet, notebooks and pens

Don't miss this amazing chance to learn from experts and network with fellow entrepreneurs. Reserve your spot now and get ready for an exciting journey to entrepreneurial success!