Accelerator Unzipped 2 : Market Analysis and Customer Development

After the first module on Business model designs, our entrepreneurs tackled Market Analysis and Customer Development. The course illustrated the importance of understanding customers and competitors when starting a business. The module was taught by Threads co-founder Tania Habimana.

“Before even starting to market a product to potential customers, it’s important to take the time to carve out the ideal consumer profile for your products” says Tania. By defining your ideal customer, you can begin to notice patterns that may prove useful in your marketing strategy. Thus enabling participants to translate their product into something that will sell to the target market.

Different research methodologies were examined to help them uncover any gaps in the market such as Customer Profile analytics, The Four P’s and Fashion Market Segmentation Table.

After looking at competitors, it was time for the entrepreneurs to consider their respective potential market segment. Once the size and potential were estimated, participants engagement in thinking about which part of the market they wanted to focus on.

Stayed tuned for next week’s module on Competition and positioning.

Threads Team

We believe in change. We believe in leaving a lasting impact. That's why threads mission is to empower the next of South African fashion entrepreneurs by providing them with the tools, resources, and networks to run a sustainable business operation and thrive internationally.