Target Market Evaluation

Systematically evaluate candidate market segments for your idea. Select the one beachhead market that gives you the best chance of success based on your ability to execute, your ability to enter the market and the potential for profit.

Target Market Evaluation Canvas

Target Market Evaluation Canvas

What's it for?


When you’re launching your new venture, you’ll have limited resources – typically much less than the established competition. As a result, you’ll need to be smart about how you enter the marketplace. In other words, you'll need to carefully select your “beachhead” entry point to maximize the impact of your strengths.

The Target Market Evaluation Canvas has five criteria to evaluate each market against. These criteria and the associated prompts will help you identify the market that, within your team, you have the skills, ability, passion and credibility to attack

Use the Target Market Evaluation Sheet to select the easiest market for you to capture… one that is also, crucially, big enough to allow you to win additional markets.

How to Get Started


Step 1.

Use your initial ideas about a target market as the starting point.

Step 2.

As a group, discuss each of the 5 evaluation criteria and make any notes about your ability to deliver against them.

Step 3.

You may want to allocate a score between 1-5 for each of the criteria. If you do this, agree a score for each evaluation point with the rest of your team.

Step 4.

Have a final discussion and select the one market segment that will be your beachhead market.

Tip

If you use a scoring system, be careful not to rely solely on that. If for instance, you are not at all passionate about the market then you might be better handing off the opportunity to a different team even if you score well on the other 4 measures.

The Target Market Evaluation Canvas is one of the tools we teach in the Intrapreneurship Mastery Training Program.

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