Stacy Chin breaks down how to define your target customers in a commercialization plan. Start by identifying who benefits from your innovation and what pain points they face. This frames your product as the solution to their specific problems.
Now, the third section of the commercialization plan is the market, customer, and competition. Here, I also like to break down this section into subsections, like using the following subtitles: the market, customer, competition, competitive advantage, and go-to-market risks. First, define your targeted market. In other words, who will benefit from the proposed innovation? And this will help start framing what are the key pain points in the market and set the narrative of how your innovation will solve that particular problem.
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