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Solid Foundation

January 18th, 2011 | by Michael Kurek
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A detailed market analysis is the basis of a solid commercialization strategy. For some entrepreneurs, too often what passes for market analysis is simply a billion-dollar figure snatched from a third-party market research study. However, an analysis should deliver more than a number. The end product of a rigorous market analysis is a value proposition statement that encompasses customer, need, product, benefit, and competition.

I encourage you to check out Joe Bockerstette’s article which provides a clear explanation of what an effective value proposition should communicate.  Then sit down and update your market analysis – or get one started if you haven’t already done so!

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Michael P. Kurek, PhD, MBA, Partner, BBC