Three Ways to Find Your Market

There are three main ways to find the right market frame of reference for your product:

Abductive Reasoning: This involves looking at your product's key features and value propositions and asking, "What kind of product typically has these features and delivers this value?" This can help you to identify a market that is a natural fit for your product.
Examine Adjacent Markets: Look at the markets that are adjacent to the one you are currently in. As markets evolve, the lines between them can become blurry, and you may find that your product is a better fit for a neighboring market. Pay particular attention to markets that are growing quickly.
Ask Your Customers (with caution): Your customers can be a valuable source of information about how your product is perceived. However, you should be cautious about relying too heavily on their feedback. They may not be positioning experts, and they may only be able to see your product in the context of the markets they are already familiar with.

By using a combination of these three approaches, you can identify a market frame of reference that will give your product the best chance of success.

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