Monday, January 5, 2009

Another wonderful blog

My thrust for knowledge and couple of google searches landed me into a nice blog written by Michael Mice. You can find very interesting articles in there about web, wireless, entertainment and computing, thats what the blog description says. Anyway if you look at the top right side of the blog you will find a link called "Stop Flying Blind" which will land you into a book in progress by Mike. I guess the link gets updated with new chapter as he proceeds. But right at this moment when you click the link, it talks of "14. How to segment the market for a new product" which i found very interesting. Being naive to my job (one and half year experience is considered less) and my company currently working on entering new market segments, i found the chapter very informative. Though i couldnt read the chapter completely (Iam saving it for sunday evening tea), but first few paragraphs were amazing. The following is the direct quote from that chapter.

"If you design a product to please everyone, chances are you’ll end up with inoffensive pablum that excites no one. That works pretty well in politics, where voters have only a couple of choices. But in new product design, where consumers can choose from an almost infinite range of new products, unexciting is usually deadly. So you should optimize the product to make one segment of customers deleriously happy, and not worry about the rest.Unfortunately, segmenting the market for a new type of product is a lot harder than you might expect"

I guess our top management has done enough market research before thinking of entering the new segment. And once Mike is done with his book, I will buy two copies of the book for sure, one for me and one for my big boss :D .

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